By otakuyassine3@gmail.com 
Kinetik (NASDAQ:KNTK – Get Free Report) had its target price lifted by investment analysts at Citigroup from $54.00 to $58.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price target points to a potential upside of 3.22% from the stock’s current price.
Several other research analysts have also recently weighed in on KNTK. Barclays increased their price objective on Kinetik from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Mizuho lifted their price objective on shares of Kinetik from $47.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada boosted their price objective on shares of Kinetik from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $49.00.
Get Our Latest Stock Report on KNTK
Kinetik Trading Down 1.1 %
Shares of KNTK traded down $0.62 during midday trading on Monday, reaching $56.19. The stock had a trading volume of 70,997 shares, compared to its average volume of 513,388. Kinetik has a one year low of $31.73 and a one year high of $62.55. The firm has a market cap of $8.85 billion, a PE ratio of 20.73, a P/E/G ratio of 2.83 and a beta of 2.95. The firm has a 50 day simple moving average of $54.18 and a 200-day simple moving average of $46.76.
Kinetik (NASDAQ:KNTK – Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.10). The company had revenue of $396.40 million for the quarter, compared to the consensus estimate of $331.21 million. Kinetik had a negative return on equity of 39.48% and a net margin of 30.25%. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period last year, the firm earned $0.21 earnings per share. As a group, research analysts forecast that Kinetik will post 1.35 EPS for the current fiscal year.
Institutional Investors Weigh In On Kinetik
A number of institutional investors have recently made changes to their positions in KNTK. Geode Capital Management LLC lifted its stake in shares of Kinetik by 1.6% in the 3rd 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 period. Merewether Investment Management LP lifted its stake in Kinetik by 56.6% in the third quarter. Merewether Investment Management LP now owns 662,300 shares of the company’s stock valued at $29,976,000 after buying an additional 239,500 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Kinetik by 88.3% during the 2nd quarter. Renaissance Technologies LLC now owns 633,962 shares of the company’s stock worth $26,271,000 after buying an additional 297,200 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Kinetik by 4.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 457,578 shares of the company’s stock worth $18,962,000 after buying an additional 20,644 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Kinetik by 70.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 456,740 shares of the company’s stock valued at $18,927,000 after acquiring an additional 188,533 shares in the last quarter. Institutional investors own 21.11% of the company’s stock.
Kinetik Company Profile
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.
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