Kinetik (NASDAQ:KNTK) Raised to “Moderate Buy” at US Capital Advisors

Kinetik (NASDAQ:KNTK) was upgraded by analysts at US Capital Advisors from a “hold” rating to a “moderate buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Kinetik from $63.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 15th. Barclays dropped their price objective on Kinetik from $61.00 to $57.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. The Goldman Sachs Group raised their price target on Kinetik from $46.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Citigroup increased their price objective on Kinetik from $54.00 to $58.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Finally, Royal Bank of Canada reduced their price target on Kinetik from $67.00 to $63.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Kinetik presently has a consensus rating of “Moderate Buy” and an average price target of $59.63.

Kinetik Stock Up 7.2 %

Shares of KNTK opened at $45.05 on Monday. The business’s 50-day moving average price is $54.84 and its 200-day moving average price is $55.45. Kinetik has a twelve month low of $37.65 and a twelve month high of $67.60. The stock has a market cap of $7.11 billion, a PE ratio of 16.62, a P/E/G ratio of 1.52 and a beta of 2.68.

Insider Activity at Kinetik

In other Kinetik news, major shareholder Isq Global Fund Ii Gp Llc sold 1,044,519 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $52.66, for a total value of $55,004,370.54. Following the completion of the sale, the insider now directly owns 657,583 shares in the company, valued at approximately $34,628,320.78. This represents a 61.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.71% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kinetik

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Kinetik by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 4,002,232 shares of the company’s stock valued at $226,967,000 after buying an additional 72,760 shares in the last quarter. Invesco Ltd. lifted its position in shares of Kinetik by 3.0% in the fourth quarter. Invesco Ltd. now owns 1,247,843 shares of the company’s stock valued at $70,765,000 after acquiring an additional 36,362 shares in the last quarter. Westwood Holdings Group Inc. lifted its position in shares of Kinetik by 78.3% in the fourth quarter. Westwood Holdings Group Inc. now owns 1,083,213 shares of the company’s stock valued at $61,429,000 after acquiring an additional 475,606 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Kinetik by 1.6% in the third quarter. Geode Capital Management LLC now owns 877,887 shares of the company’s stock valued at $39,742,000 after purchasing an additional 13,644 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Kinetik by 7.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 629,326 shares of the company’s stock worth $35,689,000 after acquiring an additional 43,629 shares during the last quarter. 21.11% of the stock is currently owned by hedge funds and other institutional investors.

About Kinetik

Kinetik Holdings Inc operates as a midstream company in the Texas Delaware Basin. The company operates through two segments, Midstream Logistics and Pipeline Transportation. It provides gathering, transportation, compression, processing, stabilization, treating, storage, and transportation services for companies that produce natural gas, natural gas liquids, and crude oil; and water gathering and disposal services.