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

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

A number of other research firms have also issued reports on KNTK. Scotiabank lowered 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. JPMorgan Chase & Co. increased their target price on Kinetik from $63.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, January 15th. The Goldman Sachs Group increased their target price on Kinetik from $46.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Wells Fargo & Company lowered their target price on Kinetik from $60.00 to $58.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Finally, Citigroup increased their target price on Kinetik from $54.00 to $58.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $58.50.

Kinetik Price Performance

Shares of NASDAQ:KNTK opened at $51.75 on Thursday. Kinetik has a 12 month low of $34.27 and a 12 month high of $67.60. The firm has a market capitalization of $8.15 billion, a PE ratio of 19.05, a P/E/G ratio of 1.52 and a beta of 2.89. The business has a 50-day moving average of $61.00 and a two-hundred day moving average of $54.37.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Versor Investments LP bought a new position in Kinetik during the 3rd quarter worth approximately $543,000. Barclays PLC lifted its holdings in Kinetik by 34.5% during the 3rd quarter. Barclays PLC now owns 234,286 shares of the company’s stock worth $10,603,000 after buying an additional 60,058 shares during the last quarter. Principal Financial Group Inc. bought a new position in Kinetik during the 3rd quarter worth approximately $921,000. Allspring Global Investments Holdings LLC lifted its holdings in Kinetik by 14,124.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,940 shares of the company’s stock worth $820,000 after buying an additional 13,842 shares during the last quarter. Finally, Eos Management L.P. lifted its holdings in Kinetik by 84.9% during the 3rd quarter. Eos Management L.P. now owns 27,000 shares of the company’s stock worth $1,222,000 after buying an additional 12,400 shares during the last quarter. Institutional investors 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.