Wells Fargo & Company Issues Pessimistic Forecast for Kinetik (NASDAQ:KNTK) Stock Price

Kinetik (NASDAQ:KNTK) had its price objective cut by equities researchers at Wells Fargo & Company from $60.00 to $58.00 in a report issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential downside of 0.66% from the stock’s current price.

KNTK has been the topic of several other reports. The Goldman Sachs Group lifted 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. JPMorgan Chase & Co. lifted 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. Citigroup lifted 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. Scotiabank decreased their price target on Kinetik from $64.00 to $62.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, January 21st. Finally, Barclays upped their price objective on Kinetik from $47.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $59.00.

Kinetik Trading Up 4.2 %

Shares of KNTK stock opened at $58.39 on Friday. The business’s 50 day moving average is $61.07 and its two-hundred day moving average is $54.11. Kinetik has a twelve month low of $33.76 and a twelve month high of $67.60. The company has a market capitalization of $9.20 billion, a P/E ratio of 21.55, a price-to-earnings-growth ratio of 1.52 and a beta of 2.89.

Institutional Trading of Kinetik

Several large investors have recently bought and sold shares of the company. Tiptree Advisors LLC acquired a new stake in Kinetik in the fourth quarter valued at $5,387,000. Gould Capital LLC acquired a new stake in Kinetik in the fourth quarter valued at $2,608,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Kinetik by 1.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 62,498 shares of the company’s stock valued at $3,544,000 after purchasing an additional 738 shares during the last quarter. Wolverine Trading LLC grew its holdings in Kinetik by 122.2% in the fourth quarter. Wolverine Trading LLC now owns 10,889 shares of the company’s stock valued at $616,000 after purchasing an additional 5,989 shares during the last quarter. Finally, Voloridge Investment Management LLC grew its holdings in Kinetik by 124.8% in the fourth quarter. Voloridge Investment Management LLC now owns 140,717 shares of the company’s stock valued at $7,980,000 after purchasing an additional 78,113 shares during the last quarter. Institutional investors and hedge funds 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.