Kinetik (NYSE:KNTK) Major Shareholder Sells $2,501,265.68 in Stock

Kinetik Holdings Inc. (NYSE:KNTK) major shareholder Isq Global Fund Ii Gp Llc sold 45,428 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $55.06, for a total value of $2,501,265.68. Following the transaction, the insider owned 797,136 shares in the company, valued at $43,890,308.16. This trade represents a 5.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, August 26th, Isq Global Fund Ii Gp Llc sold 76,260 shares of Kinetik stock. The stock was sold at an average price of $55.28, for a total value of $4,215,652.80.
• On Friday, August 21st, Isq Global Fund Ii Gp Llc sold 6,963 shares of Kinetik stock. The stock was sold at an average price of $55.17, for a total value of $384,148.71.
• On Tuesday, August 18th, Isq Global Fund Ii Gp Llc sold 64,898 shares of Kinetik stock. The stock was sold at an average price of $54.32, for a total value of $3,525,259.36.
• On Thursday, August 20th, Isq Global Fund Ii Gp Llc sold 3,107 shares of Kinetik stock. The shares were sold at an average price of $55.07, for a total transaction of $171,102.49.
• On Monday, August 17th, Isq Global Fund Ii Gp Llc sold 135,102 shares of Kinetik stock. The stock was sold at an average price of $52.78, for a total transaction of $7,130,683.56.
• 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 transaction 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 transaction 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 transaction 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 transaction of $7,675,257.48.
• On Monday, August 10th, Isq Global Fund Ii Gp Llc sold 78,474 shares of Kinetik stock. The stock was sold at an average price of $50.87, for a total transaction of $3,991,972.38.

Kinetik Stock Up 0.3%

Shares of NYSE:KNTK opened at $54.49 on Friday. The stock has a market cap of $8.85 billion, a PE ratio of 19.74, a PEG ratio of 1.34 and a beta of 0.57. The company’s fifty day moving average is $51.17 and its 200 day moving average is $48.45. Kinetik Holdings Inc. has a 52 week low of $31.33 and a 52 week high of $56.10.

Kinetik (NYSE:KNTK) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.45. Kinetik had a net margin of 26.19% and a negative return on equity of 38.96%. The business had revenue of $581.44 million during the quarter, compared to analyst estimates of $421.48 million. During the same period in the prior year, the business posted $0.33 earnings per share. The company’s revenue was up 36.3% on a year-over-year basis. Sell-side analysts anticipate that Kinetik Holdings Inc. will post 1.3 EPS for the current year.

Institutional Investors Weigh In On Kinetik

Large investors have recently modified their holdings of the stock. California State Teachers Retirement System increased its position in shares of Kinetik by 4,839.8% during the second quarter. California State Teachers Retirement System now owns 2,898,031 shares of the company’s stock valued at $140,091,000 after buying an additional 2,839,364 shares during the period. NEOS Investment Management LLC boosted its position in Kinetik by 30.9% during the 2nd quarter. NEOS Investment Management LLC now owns 392,128 shares of the company’s stock valued at $18,955,000 after acquiring an additional 92,637 shares in the last quarter. iSAM Funds UK Ltd boosted its position in Kinetik by 11.9% during the 2nd quarter. iSAM Funds UK Ltd now owns 6,400 shares of the company’s stock valued at $309,000 after acquiring an additional 680 shares in the last quarter. Nykredit A S bought a new stake in Kinetik during the 2nd quarter valued at approximately $109,000. Finally, Pinnacle Holdings LLC purchased a new position in shares of Kinetik during the 2nd quarter worth approximately $4,476,000. Institutional investors own 21.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on KNTK. Citigroup restated a “buy” rating and set a $55.00 price target (up from $52.00) on shares of Kinetik in a research report on Tuesday, August 11th. Weiss Ratings upgraded Kinetik from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 11th. US Capital Advisors raised Kinetik from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, May 29th. Zacks Research cut shares of Kinetik from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Finally, Scotiabank reaffirmed an “outperform” rating and issued a $52.00 target price (up from $51.00) on shares of Kinetik in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.27.

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.