Kinetik Holdings Inc [KNTK] stock is trading at $39.34, down -1.33%. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The KNTK shares have gain 6.07% over the last week, with a monthly amount glided 11.38%, 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 25, 2024, when RBC Capital Mkts initiated its Outperform rating and assigned the stock a price target of $40. Previously, JP Morgan upgraded its rating to Overweight on March 08, 2024, and elevated its price target to $40. Pickering Energy Partners initiated its recommendation with a Neutral. Wells Fargo started tracking with a Equal Weight rating for this stock on September 18, 2023, and assigned it a price target of $38. In a note dated September 06, 2023, Citigroup downgraded an Neutral rating on this stock but restated the target price of $34.
Kinetik Holdings Inc [KNTK] stock has fluctuated between $26.32 and $40.42 over the past year. Currently, Wall Street analysts expect the stock to reach $37.25 within the next 12 months. Kinetik Holdings Inc [NYSE: KNTK] shares were valued at $39.34 at the most recent close of the market. An investor can expect a potential drop of -5.31% based on the average KNTK price forecast.
Analyzing the KNTK fundamentals
Kinetik Holdings Inc [NYSE:KNTK] reported sales of 1.26B for the trailing twelve months, which represents a growth of 21.85%. 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. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of-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 39.09 points at the first support level, and at 38.83 for the second support level. However, for the 1st resistance point, the stock is sitting at 39.73, and for the 2nd resistance point, it is at 40.12.
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
For context, Kinetik Holdings Inc’s Current Ratio is 1.03. In addition, the Quick Ratio stands at 1.02 and the Cash Ratio stands at 0.02. Considering the valuation of this stock, the price to sales ratio is 1.86 and price to earnings (TTM) ratio is 17.43.
Transactions by insiders
Recent insider trading involved Wall Matthew,, that happened on Mar 28 ’24 when 5750.0 shares were sold., Carpenter Todd completed a deal on Mar 28 ’24 to sell 2500.0 shares. Meanwhile, Howard Trevor sold 7000.0 shares on Mar 22 ’24.
