Barclays Has Lowered Expectations for Kinetik (NASDAQ:KNTK) Stock Price

Kinetik (NASDAQ:KNTK) had its price target dropped by research analysts at Barclays from $61.00 to $57.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price would indicate a potential upside of 10.15% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Scotiabank decreased their target price on Kinetik from $64.00 to $62.00 and set a “sector outperform” rating for the company in a research note on Tuesday, January 21st. Citigroup lifted their price target on Kinetik from $54.00 to $58.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. JPMorgan Chase & Co. lifted their price target on Kinetik from $63.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 15th. The Goldman Sachs Group lifted their price target on Kinetik from $46.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Wells Fargo & Company dropped their target price on Kinetik from $60.00 to $58.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Kinetik currently has an average rating of “Moderate Buy” and a consensus price target of $58.50.

Kinetik Stock Down 4.0 %

KNTK stock opened at $51.75 on Thursday. The business has a 50 day moving average price of $61.00 and a 200 day moving average price of $54.37. The stock has a market cap of $8.15 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 1.52 and a beta of 2.89. Kinetik has a fifty-two week low of $34.27 and a fifty-two week high of $67.60.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC purchased a new stake in shares of Kinetik in the third quarter valued at $3,558,000. Harbor Capital Advisors Inc. lifted its position in shares of Kinetik by 132.1% in the third quarter. Harbor Capital Advisors Inc. now owns 8,914 shares of the company’s stock valued at $403,000 after acquiring an additional 5,073 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Kinetik by 73.4% in the third quarter. Van ECK Associates Corp now owns 24,527 shares of the company’s stock valued at $1,110,000 after acquiring an additional 10,384 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Kinetik in the third quarter valued at $921,000. Finally, Covestor Ltd lifted its position in shares of Kinetik by 13,790.0% in the third quarter. Covestor Ltd now owns 4,167 shares of the company’s stock valued at $189,000 after acquiring an additional 4,137 shares in the last quarter. Institutional investors and hedge funds 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.