Crawford Investment Counsel Inc. Acquires 28,648 Shares of Kinetik Holdings Inc. $KNTK

Crawford Investment Counsel Inc. lifted its stake in Kinetik Holdings Inc. (NYSE:KNTK) by 10.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 309,175 shares of the company’s stock after buying an additional 28,648 shares during the period. Crawford Investment Counsel Inc.’s holdings in Kinetik were worth $13,214,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new position in Kinetik during the 3rd quarter worth $54,000. Fifth Third Bancorp lifted its position in shares of Kinetik by 269.2% during the 3rd quarter. Fifth Third Bancorp now owns 1,569 shares of the company’s stock valued at $67,000 after acquiring an additional 1,144 shares during the period. Comerica Bank lifted its position in shares of Kinetik by 91.5% during the 1st quarter. Comerica Bank now owns 1,532 shares of the company’s stock valued at $80,000 after acquiring an additional 732 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Kinetik during the 3rd quarter worth $87,000. Finally, Strs Ohio acquired a new stake in shares of Kinetik during the 1st quarter worth $93,000. Institutional investors and hedge funds own 21.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on KNTK. Citigroup boosted their price target on Kinetik from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Wolfe Research downgraded shares of Kinetik from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 27th. Royal Bank Of Canada boosted their target price on shares of Kinetik from $46.00 to $49.00 and gave the company an “outperform” rating in a research report on Tuesday, March 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kinetik in a report on Thursday, January 22nd. Finally, Wells Fargo & Company increased their price target on shares of Kinetik from $44.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Friday. Six investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company 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 twelve month low of $31.33 and a twelve month high of $54.94. The company has a market cap of $7.24 billion, a P/E ratio of 17.43, a P/E/G ratio of 1.24 and a beta of 0.70. The business has a fifty day simple moving average of $41.55 and a 200 day simple moving average of $39.23.

Kinetik (NYSE:KNTK) last released its earnings results on Thursday, February 26th. The company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $2.01. The firm 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%.The business’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.01 EPS.

Insider Activity at Kinetik

In related news, insider Matthew Wall sold 8,083 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $36.05, for a total transaction of $291,392.15. Following the completion of the transaction, the insider directly owned 554,738 shares in the company, valued at $19,998,304.90. This represents a 1.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Trevor Howard sold 1,619 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $46.92, for a total transaction of $75,963.48. Following the completion of the transaction, the insider directly owned 249,795 shares of the company’s stock, valued at approximately $11,720,381.40. The trade was a 0.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 4,015,831 shares of company stock worth $180,054,928 over the last three months. 3.83% of the stock is owned by insiders.

Kinetik Profile

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.