NEOS Investment Management LLC Has $18.95 Million Holdings in Kinetik Holdings Inc. $KNTK

NEOS Investment Management LLC raised its holdings in Kinetik Holdings Inc. (NYSE:KNTK) by 30.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 392,128 shares of the company’s stock after acquiring an additional 92,637 shares during the quarter. NEOS Investment Management LLC’s holdings in Kinetik were worth $18,955,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of KNTK. CWM LLC grew its holdings in Kinetik by 89.8% during the fourth quarter. CWM LLC now owns 744 shares of the company’s stock valued at $27,000 after purchasing an additional 352 shares during the period. Kestra Advisory Services LLC acquired a new stake in Kinetik in the fourth quarter worth $33,000. Los Angeles Capital Management LLC bought a new position in shares of Kinetik during the fourth quarter worth $40,000. Huntington National Bank grew its holdings in shares of Kinetik by 139.1% in the 4th quarter. Huntington National Bank now owns 1,222 shares of the company’s stock valued at $44,000 after buying an additional 711 shares during the period. Finally, SBI Okasan Asset Management Co.Ltd. acquired a new position in shares of Kinetik in the 4th quarter valued at $47,000. 21.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on KNTK shares. Jefferies Financial Group restated a “hold” rating and issued a $51.00 price objective on shares of Kinetik in a research report on Friday, May 8th. Tudor Pickering assumed coverage on Kinetik in a research note on Monday, July 20th. They issued a “buy” rating and a $57.00 target price for the company. Zacks Research downgraded Kinetik from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Morgan Stanley reaffirmed an “overweight” rating and set a $70.00 price target (up from $64.00) on shares of Kinetik in a research report on Tuesday, August 18th. Finally, US Capital Advisors upgraded Kinetik from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Kinetik currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.27.

Kinetik Trading Up 0.3%

KNTK opened at $54.49 on Friday. The firm’s fifty day simple moving average is $51.17 and its 200 day simple moving average is $48.45. Kinetik Holdings Inc. has a 12 month low of $31.33 and a 12 month high of $56.10. The stock has a market capitalization of $8.85 billion, a P/E ratio of 19.74, a P/E/G ratio of 1.34 and a beta of 0.57.

Kinetik (NYSE:KNTK) last released its earnings results on Wednesday, August 5th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.19 by $0.45. Kinetik had a negative return on equity of 38.96% and a net margin of 26.19%.The firm had revenue of $581.44 million for the quarter, compared to analysts’ expectations of $421.48 million. During the same quarter in the previous year, the business posted $0.33 EPS. The business’s quarterly revenue was up 36.3% compared to the same quarter last year. On average, equities research analysts predict that Kinetik Holdings Inc. will post 1.3 EPS for the current fiscal year.

Insider Buying and Selling

In other Kinetik news, major shareholder Isq Global Fund Ii Gp Llc sold 235,349 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $50.52, for a total value of $11,889,831.48. Following the completion of the transaction, the insider directly owned 1,691,370 shares in the company, valued at $85,448,012.40. This trade represents a 12.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 1,134,497 shares of company stock worth $59,265,751 over the last ninety days. Corporate insiders own 3.56% of the company’s stock.

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.