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 report released on Monday,Zacks.com reports.

KNTK has been the subject of a number of other reports. JPMorgan Chase & Co. lifted their price target on Kinetik from $63.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, January 15th. Scotiabank decreased their price target on Kinetik from $62.00 to $60.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. Wells Fargo & Company decreased their price target on Kinetik from $60.00 to $58.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Citigroup lifted their target price on Kinetik from $54.00 to $58.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Finally, Royal Bank of Canada cut their target price on Kinetik from $67.00 to $63.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.63.

Kinetik Trading Up 7.2 %

NASDAQ:KNTK opened at $45.05 on Monday. The firm has a market cap of $7.11 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 1.52 and a beta of 2.68. The stock has a fifty day moving average price of $54.84 and a 200 day moving average price of $55.45. Kinetik has a 12-month low of $37.65 and a 12-month high of $67.60.

Insider Activity at Kinetik

In related news, major shareholder Isq Global Fund Ii Gp Llc sold 1,044,519 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 657,583 shares of the company’s stock, valued at approximately $34,628,320.78. This represents a 61.37 % decrease in their position. The transaction 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 corporate insiders.

Institutional Investors Weigh In On Kinetik

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. boosted its holdings in shares of Kinetik by 2.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 9,088 shares of the company’s stock worth $515,000 after purchasing an additional 174 shares during the last quarter. Comerica Bank boosted its holdings in shares of Kinetik by 32.2% during the fourth quarter. Comerica Bank now owns 800 shares of the company’s stock worth $45,000 after purchasing an additional 195 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Kinetik by 72.0% during the fourth quarter. GAMMA Investing LLC now owns 509 shares of the company’s stock worth $29,000 after purchasing an additional 213 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of Kinetik by 5.3% during the fourth quarter. Private Advisor Group LLC now owns 8,859 shares of the company’s stock worth $502,000 after purchasing an additional 448 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new stake in shares of Kinetik during the fourth quarter worth $26,000. Hedge funds and other institutional investors own 21.11% of the company’s stock.

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.