Kinetik Holdings Inc. (NASDAQ:KNTK) COO Sells $357,438.40 in Stock

Kinetik Holdings Inc. (NASDAQ:KNTKGet Rating) COO Matthew Wall sold 8,830 shares of the business’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $40.48, for a total transaction of $357,438.40. Following the completion of the sale, the chief operating officer now directly owns 420,716 shares of the company’s stock, valued at $17,030,583.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Kinetik Trading Down 1.4 %

Shares of NASDAQ:KNTK opened at $38.36 on Friday. The company has a market cap of $5.08 billion, a price-to-earnings ratio of 146.79, a price-to-earnings-growth ratio of 0.30 and a beta of 2.87. The company has a 50-day moving average price of $37.76 and a 200-day moving average price of $36.60. Kinetik Holdings Inc. has a 12 month low of $29.05 and a 12 month high of $45.50.

Kinetik (NASDAQ:KNTKGet Rating) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $2.39 EPS for the quarter, beating the consensus estimate of $0.61 by $1.78. The firm had revenue of $335.57 million for the quarter. As a group, research analysts forecast that Kinetik Holdings Inc. will post 2.52 EPS for the current fiscal year.

Kinetik Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 17th. Investors of record on Friday, August 5th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 7.82%. The ex-dividend date was Thursday, August 4th.

Wall Street Analyst Weigh In

Several research firms have weighed in on KNTK. Morgan Stanley began coverage on shares of Kinetik in a research note on Thursday, August 25th. They issued an “equal weight” rating and a $46.00 price target for the company. Mizuho upped their price objective on shares of Kinetik from $41.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, August 11th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

About Kinetik

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Kinetik Holdings Inc operates as a midstream company in the Texas Delaware Basin. It provides gathering, transportation, compression, processing, and treating services for companies that produce natural gas, natural gas liquids, crude oil, and water. The company is headquartered in Midland, Texas.

Further Reading

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