Kinetik Holdings Inc. $KNTK Shares Newly Purchased by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC acquired a new stake in Kinetik Holdings Inc. (NYSE:KNTK) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 11,303 shares of the company’s stock, valued at approximately $567,000.

A number of other large investors also recently bought and sold shares of the stock. Allworth Financial LP increased its position in shares of Kinetik by 72.4% during the second quarter. Allworth Financial LP now owns 569 shares of the company’s stock valued at $28,000 after acquiring an additional 239 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its holdings in shares of Kinetik by 5,693.8% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 927 shares of the company’s stock worth $47,000 after acquiring an additional 911 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Kinetik in the 2nd quarter worth approximately $71,000. Signaturefd LLC boosted its position in shares of Kinetik by 21.3% during the 3rd quarter. Signaturefd LLC now owns 1,714 shares of the company’s stock worth $86,000 after purchasing an additional 301 shares during the period. Finally, Nykredit A S purchased a new position in shares of Kinetik during the 2nd quarter worth approximately $109,000. Institutional investors and hedge funds own 21.11% of the company’s stock.

Kinetik Stock Performance

Shares of KNTK stock opened at $56.63 on Monday. Kinetik Holdings Inc. has a fifty-two week low of $31.33 and a fifty-two week high of $58.90. The company has a 50 day moving average price of $54.15 and a 200 day moving average price of $48.62. The stock has a market capitalization of $9.20 billion, a P/E ratio of 20.52, a price-to-earnings-growth ratio of 1.26 and a beta of 0.67.

Kinetik (NYSE:KNTK) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.64 earnings per share 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 negative return on equity of 38.96% and a net margin of 26.19%. Kinetik’s revenue was up 36.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.33 EPS. On average, research analysts forecast that Kinetik Holdings Inc. will post 1.44 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on KNTK shares. Truist Financial boosted their target price on Kinetik from $53.00 to $59.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Wells Fargo & Company restated an “overweight” rating and set a $54.00 price target on shares of Kinetik in a research report on Monday, August 10th. Wall Street Zen raised Kinetik from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 8th. Raymond James Financial reiterated an “outperform” rating and issued a $57.00 price objective on shares of Kinetik in a report on Tuesday, October 20th. Finally, Zacks Research upgraded Kinetik from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Kinetik presently has an average rating of “Moderate Buy” and a consensus target price of $55.47.

Insider Buying and Selling

In other Kinetik news, major shareholder Isq Global Fund Ii Gp Llc sold 2,000,000 shares of the firm’s stock in a transaction dated Tuesday, October 13th. The stock was sold at an average price of $54.77, for a total transaction of $109,540,000.00. Following the transaction, the insider owned 1 shares of the company’s stock, valued at approximately $54.77. This trade represents a 100.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 3,929,457 shares of company stock valued at $211,858,222 in the last 90 days. Corporate insiders own 3.56% of the company’s stock.

About Kinetik

Kinetik Holdings Inc is a midstream energy company that provides infrastructure and services for the gathering, processing, transportation and treatment of natural gas, crude oil and natural gas liquids. Its operations are focused primarily on the Permian Basin, where it connects hydrocarbon production to processing facilities, pipelines and downstream markets.

The company’s assets include natural gas gathering and processing systems, crude oil gathering infrastructure, natural gas liquids services and long-haul pipeline interests.