Kinetik (NYSE:KNTK) Major Shareholder Isq Global Fund Ii Gp Llc Sells 135,102 Shares

Kinetik Holdings Inc. (NYSE:KNTK) major shareholder Isq Global Fund Ii Gp Llc sold 135,102 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $52.78, for a total value of $7,130,683.56. Following the completion of the sale, the insider directly owned 993,792 shares of the company’s stock, valued at approximately $52,452,341.76. This trade represents a 11.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Isq Global Fund Ii Gp Llc also recently made the following trade(s):

• On Friday, August 14th, Isq Global Fund Ii Gp Llc sold 112,160 shares of Kinetik stock. The stock was sold at an average price of $53.48, for a total value of $5,998,316.80.
• On Thursday, August 13th, Isq Global Fund Ii Gp Llc sold 113,075 shares of Kinetik stock. The stock was sold at an average price of $51.60, for a total value of $5,834,670.00.
• On Wednesday, August 12th, Isq Global Fund Ii Gp Llc sold 84,701 shares of Kinetik stock. The shares were sold at an average price of $51.52, for a total value of $4,363,795.52.
• On Tuesday, August 11th, Isq Global Fund Ii Gp Llc sold 147,516 shares of Kinetik stock. The shares were sold at an average price of $52.03, for a total value of $7,675,257.48.
• On Monday, August 10th, Isq Global Fund Ii Gp Llc sold 78,474 shares of Kinetik stock. The shares were sold at an average price of $50.87, for a total value of $3,991,972.38.
• On Friday, August 7th, Isq Global Fund Ii Gp Llc sold 26,550 shares of Kinetik stock. The stock was sold at an average price of $50.24, for a total transaction of $1,333,872.00.
• On Thursday, August 6th, Isq Global Fund Ii Gp Llc sold 235,349 shares of Kinetik stock. The shares were sold at an average price of $50.52, for a total transaction of $11,889,831.48.
• On Monday, August 3rd, Isq Global Fund Ii Gp Llc sold 2,175 shares of Kinetik stock. The shares were sold at an average price of $50.04, for a total transaction of $108,837.00.

Kinetik Trading Down 0.8%

KNTK stock traded down $0.45 on Monday, hitting $52.99. The company’s stock had a trading volume of 840,819 shares, compared to its average volume of 1,059,783. The stock has a market cap of $8.60 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 1.32 and a beta of 0.56. The firm has a 50 day moving average of $49.07 and a two-hundred day moving average of $47.18. Kinetik Holdings Inc. has a 1 year low of $31.33 and a 1 year high of $54.12.

Kinetik (NYSE:KNTK) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.45. The company had revenue of $581.44 million for the quarter, compared to the consensus estimate of $421.48 million. Kinetik had a net margin of 26.19% and a negative return on equity of 38.96%. Kinetik’s revenue for the quarter was up 36.3% on a year-over-year basis. During the same period last year, the firm posted $0.33 EPS. As a group, equities analysts forecast that Kinetik Holdings Inc. will post 1.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in KNTK. GAMMA Investing LLC lifted its stake in shares of Kinetik by 10.5% during the 2nd quarter. GAMMA Investing LLC now owns 2,882 shares of the company’s stock worth $139,000 after purchasing an additional 273 shares during the period. ProShare Advisors LLC grew its position in shares of Kinetik by 3.5% in the fourth quarter. ProShare Advisors LLC now owns 8,633 shares of the company’s stock valued at $311,000 after purchasing an additional 294 shares during the period. Maryland State Retirement & Pension System increased its stake in Kinetik by 5.4% in the fourth quarter. Maryland State Retirement & Pension System now owns 6,612 shares of the company’s stock valued at $238,000 after purchasing an additional 337 shares during the last quarter. Federated Hermes Inc. increased its stake in Kinetik by 0.4% in the second quarter. Federated Hermes Inc. now owns 89,133 shares of the company’s stock valued at $3,926,000 after purchasing an additional 346 shares during the last quarter. Finally, CWM LLC lifted its position in Kinetik by 89.8% during the fourth quarter. CWM LLC now owns 744 shares of the company’s stock worth $27,000 after buying an additional 352 shares during the period. 21.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KNTK has been the topic of a number of research reports. Tudor Pickering initiated coverage on Kinetik in a report on Monday, July 20th. They set a “buy” rating and a $57.00 price target on the stock. Citigroup reaffirmed a “buy” rating and set a $55.00 price objective (up from $52.00) on shares of Kinetik in a research report on Tuesday, August 11th. Wells Fargo & Company reiterated an “overweight” rating and issued a $54.00 target price on shares of Kinetik in a research note on Monday, August 10th. Barclays set a $51.00 target price on Kinetik and gave the company an “equal weight” rating in a report on Thursday, August 6th. Finally, Weiss Ratings raised Kinetik from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Kinetik currently has an average rating of “Moderate Buy” and an average price target of $52.87.

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.