At the time of writing, Kinetik Holdings Inc [KNTK] stock is trading at $35.88, down -2.79%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The KNTK shares have gain 1.79% over the last week, with a monthly amount glided 11.08%, and seem to be holding up well over a long-time horizon.
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On 14, March 2024, Kinetik Announces Pricing of Secondary Offering of Common Stock. In a post published today on Yahoo Finance, Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) announced today the pricing of an underwritten secondary offering of 11,373,801 shares of its Class A common stock (the “Offering”) by Apache Midstream LLC (the “Selling Stockholder”), a subsidiary of Apache Corporation, at a price of $33.75 per share. Kinetik is not selling any shares of Class A common stock in the Offering and will not receive the proceeds from any sale of shares by the Selling Stockholder. The Selling Stockholder has granted to the underwriters a 30-day option to purchase up to an additional 1,706,070 shares of Kinetik’s Class A common stock.
From an analyst’s perspective:
Kinetik Holdings Inc [NYSE: KNTK] stock has seen the most recent analyst activity on March 08, 2024, when JP Morgan upgraded its rating to a Overweight and also boosted its price target to $40 from $38. Pickering Energy Partners started tracking the stock assigning a Neutral rating. Wells Fargo initiated its recommendation with a Equal Weight and recommended $38 as its price target on September 18, 2023. Citigroup downgraded its rating to Neutral for this stock on September 06, 2023, but kept the price target unchanged to $34. In a note dated June 12, 2023, Scotiabank upgraded an Sector Outperform rating on this stock and boosted its target price from $34 to $37.
For the past year, the stock price of Kinetik Holdings Inc fluctuated between $26.32 and $37.41. Currently, Wall Street analysts expect the stock to reach $36.7 within the next 12 months. Kinetik Holdings Inc [NYSE: KNTK] shares were valued at $35.88 at the most recent close of the market. An investor can expect a potential return of 2.29% based on the average KNTK price forecast.
Analyzing the KNTK fundamentals
According to Kinetik Holdings Inc [NYSE:KNTK], the company’s sales were 1.26B for trailing twelve months, which represents an 21.85% jump. Gross Profit Margin for this corporation currently stands at 0.37% with Operating Profit Margin at 0.07%, Pretax Profit Margin comes in at 0.12%, and Net Profit Margin reading is 0.31%. To continue investigating profitability, this company’s Return on Assets is posted at 0.06, Equity is -0.53 and Total Capital is 0.01. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at -6.78.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 35.09 points at the first support level, and at 34.31 for the second support level. However, for the 1st resistance point, the stock is sitting at 36.76, and for the 2nd resistance point, it is at 37.65.
Kinetik Holdings Inc [KNTK] reported earnings per share of $1.7 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.47/share, meaning a difference of $1.23 and a surprise factor of 261.70%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.21 per share as compared to estimates of $0.58 per share, a difference of -$0.37 representing a surprise of -63.80%.
Ratios To Look Out For
It is important to note that Kinetik Holdings Inc [NYSE:KNTK] has a current ratio of 1.03. As well, the Quick Ratio is 1.02, while the Cash Ratio is 0.02. Considering the valuation of this stock, the price to sales ratio is 1.63 and price to earnings (TTM) ratio is 15.90.
Transactions by insiders
Recent insider trading involved Howard Trevor,, that happened on Mar 12 ’24 when 1664.0 shares were sold., Wall Matthew completed a deal on Mar 11 ’24 to sell 3185.0 shares. Meanwhile, Carpenter Todd sold 3182.0 shares on Mar 11 ’24.
