Kinetik Holdings Inc. (NASDAQ:KNTK) to Post Q2 2023 Earnings of $0.44 Per Share, US Capital Advisors Forecasts

Kinetik Holdings Inc. (NASDAQ:KNTK – Get Rating) – Equities research analysts at US Capital Advisors lowered their Q2 2023 earnings estimates for shares of Kinetik in a report issued on Friday, May 19th. US Capital Advisors analyst J. Carreker now anticipates that the company will earn $0.44 per share for the quarter, down from their previous estimate of $0.45. The consensus estimate for Kinetik’s current full-year earnings is $1.57 per share. US Capital Advisors also issued estimates for Kinetik’s Q3 2023 earnings at $0.48 EPS, Q4 2023 earnings at $0.52 EPS, Q1 2024 earnings at $0.60 EPS, Q2 2024 earnings at $0.64 EPS, Q3 2024 earnings at $0.67 EPS and Q4 2024 earnings at $0.57 EPS.

Kinetik (NASDAQ:KNTK – Get Rating) last announced its quarterly earnings results on Monday, February 27th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.25). The company had revenue of $295.49 million during the quarter, compared to analysts’ expectations of $248.87 million. Kinetik had a negative return on equity of 16.97% and a net margin of 4.58%.

KNTK has been the topic of several other research reports. Mizuho decreased their price target on shares of Kinetik from $40.00 to $37.00 and set a “buy” rating on the stock in a research note on Monday, February 27th. Citigroup decreased their target price on shares of Kinetik from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Tuesday, March 14th. Scotiabank initiated coverage on shares of Kinetik in a research report on Thursday, March 2nd. They set a “sector perform” rating and a $34.00 target price on the stock. Wolfe Research initiated coverage on shares of Kinetik in a research report on Monday, May 1st. They set a “market perform” rating on the stock. Finally, Raymond James initiated coverage on shares of Kinetik in a research report on Friday, April 21st. They set a “market perform” rating on the stock. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Kinetik presently has a consensus rating of “Hold” and an average target price of $37.50.

Kinetik Stock Up 0.8 %

Shares of KNTK stock opened at $31.80 on Monday. The stock has a market cap of $4.55 billion, a P/E ratio of 24.65, a PEG ratio of 1.51 and a beta of 2.65. Kinetik has a 52 week low of $26.32 and a 52 week high of $44.99. The company’s fifty day simple moving average is $30.68 and its two-hundred day simple moving average is $31.49.

Kinetik Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 17th. Shareholders of record on Friday, May 5th were paid a $0.75 dividend. The ex-dividend date of this dividend was Thursday, May 4th. This represents a $3.00 dividend on an annualized basis and a yield of 9.43%. Kinetik’s dividend payout ratio is currently 232.56%.

Insiders Place Their Bets

In other Kinetik news, COO Matthew Wall sold 3,530 shares of the company’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $29.39, for a total value of $103,746.70. Following the transaction, the chief operating officer now directly owns 476,598 shares in the company, valued at approximately $14,007,215.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Kinetik news, insider Anne Psencik sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $31.48, for a total value of $314,800.00. Following the completion of the sale, the insider now directly owns 178,982 shares in the company, valued at $5,634,353.36. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Matthew Wall sold 3,530 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $29.39, for a total transaction of $103,746.70. Following the completion of the sale, the chief operating officer now owns 476,598 shares of the company’s stock, valued at $14,007,215.22. The disclosure for this sale can be found here. Insiders have sold 30,827 shares of company stock worth $952,808 in the last three months. Corporate insiders own 3.62% of the company’s stock.

Institutional Investors Weigh In On Kinetik

Institutional investors have recently bought and sold shares of the company. Pinnacle Holdings LLC acquired a new stake in Kinetik in the third quarter valued at approximately $3,608,000. American Financial Group Inc. purchased a new position in shares of Kinetik in the third quarter worth $228,000. Blackstone Inc. purchased a new position in shares of Kinetik during the third quarter worth $89,135,000. Barnett & Company Inc. raised its holdings in shares of Kinetik by 2.0% during the fourth quarter. Barnett & Company Inc. now owns 142,316 shares of the company’s stock worth $4,708,000 after purchasing an additional 2,800 shares during the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Kinetik during the third quarter worth $1,047,000.

About Kinetik

(Get Rating)

Kinetik Holdings, Inc provides oil and gas production and distribution services. It operates through the Midstream Logistics and Pipeline Transportation segments. The Midstream Logistics segment is involved in the following service offerings: gas gathering and processing, crude oil gathering, stabilization and storage services, and water gathering and disposal.