BlueCrest Capital Management Ltd Buys Shares of 12,000 Kinetik Holdings Inc. $KNTK

BlueCrest Capital Management Ltd purchased a new position in Kinetik Holdings Inc. (NYSE:KNTK) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 12,000 shares of the company’s stock, valued at approximately $513,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Federated Hermes Inc. boosted its stake in Kinetik by 0.4% in the 2nd quarter. Federated Hermes Inc. now owns 89,133 shares of the company’s stock worth $3,926,000 after purchasing an additional 346 shares during the period. SL Advisors LLC increased its holdings in shares of Kinetik by 1.7% in the 3rd quarter. SL Advisors LLC now owns 22,306 shares of the company’s stock valued at $953,000 after purchasing an additional 379 shares during the period. Apollon Wealth Management LLC increased its holdings in shares of Kinetik by 6.9% in the 3rd quarter. Apollon Wealth Management LLC now owns 5,990 shares of the company’s stock valued at $256,000 after purchasing an additional 388 shares during the period. Aquatic Capital Management LLC lifted its position in shares of Kinetik by 0.8% in the third quarter. Aquatic Capital Management LLC now owns 61,058 shares of the company’s stock worth $2,610,000 after purchasing an additional 479 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Kinetik by 4.2% in the first quarter. AQR Capital Management LLC now owns 12,900 shares of the company’s stock worth $670,000 after purchasing an additional 522 shares in the last quarter. 21.11% of the stock is owned by institutional investors and hedge funds.

Kinetik Stock Up 1.7%

Shares of NYSE KNTK opened at $45.40 on Wednesday. The business’s 50 day moving average is $41.91 and its two-hundred day moving average is $39.25. The company has a market cap of $7.34 billion, a P/E ratio of 17.67, a P/E/G ratio of 1.41 and a beta of 0.69. Kinetik Holdings Inc. has a 12 month low of $31.33 and a 12 month high of $54.94.

Kinetik (NYSE:KNTK) last issued its quarterly earnings results on Thursday, February 26th. The company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $2.01. Kinetik had a negative return on equity of 32.70% and a net margin of 29.23%.The firm had revenue of $430.42 million for the quarter. During the same quarter in the prior year, the firm earned $0.01 earnings per share. The company’s revenue was up 11.5% on a year-over-year basis.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Raymond James Financial set a $46.00 price objective on shares of Kinetik in a research report on Monday, January 5th. Citigroup boosted their target price on shares of Kinetik from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Kinetik in a report on Thursday, January 22nd. Scotiabank lifted their price objective on shares of Kinetik from $49.00 to $51.00 and gave the company a “sector outperform” rating in a research note on Tuesday. Finally, Zacks Research downgraded shares of Kinetik from a “hold” rating to a “strong sell” rating in a research report on Monday, January 5th. Six investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $46.18.

Insider Transactions at Kinetik

In other Kinetik news, major shareholder Isq Global Fund Ii Gp Llc sold 4,000,000 shares of Kinetik stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $44.85, for a total transaction of $179,400,000.00. Following the sale, the insider owned 1 shares in the company, valued at $44.85. The trade was a 100.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Steven Stellato sold 2,907 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $46.92, for a total transaction of $136,396.44. Following the completion of the transaction, the insider owned 393,382 shares of the company’s stock, valued at approximately $18,457,483.44. This represents a 0.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 4,015,831 shares of company stock valued at $180,054,928 in the last ninety days. 3.83% of the stock is owned by company 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.