BlueCrest Capital Management Ltd Acquires New Holdings in Kinetik Holdings Inc. $KNTK

BlueCrest Capital Management Ltd bought a new position in Kinetik Holdings Inc. (NYSE:KNTK) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 12,000 shares of the company’s stock, valued at approximately $513,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Federated Hermes Inc. grew its holdings in shares of Kinetik by 0.4% in the 2nd quarter. Federated Hermes Inc. now owns 89,133 shares of the company’s stock valued at $3,926,000 after acquiring an additional 346 shares in the last quarter. SL Advisors LLC boosted its position in Kinetik by 1.7% during the third quarter. SL Advisors LLC now owns 22,306 shares of the company’s stock valued at $953,000 after purchasing an additional 379 shares during the last quarter. Apollon Wealth Management LLC grew its stake in Kinetik by 6.9% in the third quarter. Apollon Wealth Management LLC now owns 5,990 shares of the company’s stock valued at $256,000 after purchasing an additional 388 shares in the last quarter. Aquatic Capital Management LLC increased its position in shares of Kinetik by 0.8% during the 3rd quarter. Aquatic Capital Management LLC now owns 61,058 shares of the company’s stock worth $2,610,000 after purchasing an additional 479 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Kinetik by 4.2% during the 1st quarter. AQR Capital Management LLC now owns 12,900 shares of the company’s stock worth $670,000 after purchasing an additional 522 shares in the last quarter. 21.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Kinetik

In related news, major shareholder Isq Global Fund Ii Gp Llc sold 4,000,000 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $44.85, for a total transaction of $179,400,000.00. Following the transaction, the insider directly owned 1 shares of the company’s stock, valued at approximately $44.85. This trade represents a 100.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Matthew Wall sold 3,222 shares of Kinetik stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $46.92, for a total transaction of $151,176.24. Following the completion of the sale, the insider owned 585,556 shares of the company’s stock, valued at $27,474,287.52. This trade represents a 0.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 4,015,831 shares of company stock worth $180,054,928 over the last ninety days. Corporate insiders own 3.83% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wells Fargo & Company increased their price objective on Kinetik from $44.00 to $47.00 and gave the company an “equal weight” rating in a report on Friday. Wall Street Zen lowered shares of Kinetik from a “hold” rating to a “sell” rating in a research report on Sunday, March 8th. Scotiabank increased their price target on shares of Kinetik from $48.00 to $49.00 and gave the company a “sector outperform” rating in a research note on Thursday, March 5th. Zacks Research lowered shares of Kinetik from a “hold” rating to a “strong sell” rating in a research note on Monday, January 5th. Finally, The Goldman Sachs Group cut their target price on shares of Kinetik from $46.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, November 17th. Six investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $46.09.

Kinetik Stock Down 0.8%

Shares of KNTK stock opened at $44.79 on Friday. Kinetik Holdings Inc. has a 12-month low of $31.33 and a 12-month high of $54.94. The company has a market capitalization of $7.24 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 1.24 and a beta of 0.70. The firm has a 50 day moving average price of $41.55 and a two-hundred day moving average price of $39.23.

Kinetik (NYSE:KNTK) last announced its earnings results on Thursday, February 26th. The company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $2.01. The company had revenue of $430.42 million for the quarter. Kinetik had a negative return on equity of 32.70% and a net margin of 29.23%.Kinetik’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the business posted $0.01 EPS.

About Kinetik

Kinetik (NYSE: KNTK) is a publicly listed midstream energy company focused on the development, operation and management of natural gas infrastructure across the United States. The company’s core business activities include the gathering, compression, processing, storage and transportation of natural gas, serving producers, utilities and industrial consumers. By integrating a suite of midstream services under a single platform, Kinetik aims to provide efficient, cost-effective and reliable solutions across the natural gas value chain.

The company was established in 2021 when assets were acquired from Talen Energy by a subsidiary of ArcLight Capital Partners, forming a comprehensive portfolio of pipelines, compression facilities and underground storage assets.