Mizuho Begins Coverage on Kinetik (NASDAQ:KNTK)

Stock analysts at Mizuho initiated coverage on shares of Kinetik (NASDAQ:KNTKGet Rating) in a research report issued to clients and investors on Monday, The Fly reports. The brokerage set a “buy” rating on the stock.

KNTK has been the topic of several other research reports. US Capital Advisors upgraded shares of Kinetik from a “hold” rating to an “overweight” rating in a research report on Friday, March 11th. Credit Suisse Group initiated coverage on shares of Kinetik in a research note on Monday, February 28th. They set an “outperform” rating and a $72.00 price objective on the stock.

Shares of NASDAQ KNTK traded down $0.39 during midday trading on Monday, hitting $70.17. 60,980 shares of the company traded hands, compared to its average volume of 142,345. Kinetik has a 12-month low of $52.78 and a 12-month high of $91.00. The stock has a market capitalization of $3.46 billion, a P/E ratio of 13.68 and a beta of 3.28.

In other Kinetik news, major shareholder Corp Apache sold 4,000,000 shares of the company’s stock in a transaction that occurred on Friday, March 11th. The shares were sold at an average price of $58.00, for a total transaction of $232,000,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.92% of the company’s stock.

About Kinetik (Get Rating)

Kinetik Holdings Inc operates as a midstream company in the Texas Delaware Basin. It provides gathering, transportation, compression, processing, and treating services for companies that produce natural gas, natural gas liquids, crude oil, and water. The company is headquartered in Midland, Texas.

Further Reading

The Fly logo

Receive News & Ratings for Kinetik Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kinetik and related companies with MarketBeat.com's FREE daily email newsletter.