Kinetik (NYSE:KNTK) Major Shareholder Isq Global Fund Ii Gp Llc Sells 76,260 Shares of Stock

Kinetik Holdings Inc. (NYSE:KNTK) major shareholder Isq Global Fund Ii Gp Llc sold 76,260 shares of the company’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $55.28, for a total value of $4,215,652.80. Following the completion of the transaction, the insider directly owned 842,564 shares of the company’s stock, valued at approximately $46,576,937.92. This trade represents a 8.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, August 21st, Isq Global Fund Ii Gp Llc sold 6,963 shares of Kinetik stock. The shares were 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 stock was sold at an average price of $55.07, for a total value 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 value of $7,130,683.56.
• On Friday, August 14th, Isq Global Fund Ii Gp Llc sold 112,160 shares of Kinetik stock. The shares were 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 shares were 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 stock was 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 stock was 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.
• On Friday, August 7th, Isq Global Fund Ii Gp Llc sold 26,550 shares of Kinetik stock. The shares were sold at an average price of $50.24, for a total transaction of $1,333,872.00.

Kinetik Stock Down 0.7%

Shares of KNTK stock opened at $54.02 on Friday. The company’s fifty day simple moving average is $50.54 and its two-hundred day simple moving average is $47.99. Kinetik Holdings Inc. has a 52 week low of $31.33 and a 52 week high of $56.10. The stock has a market cap of $8.77 billion, a P/E ratio of 19.57, a PEG ratio of 1.34 and a beta of 0.56.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of Kinetik by 10.5% in the second quarter. GAMMA Investing LLC now owns 2,882 shares of the company’s stock valued at $139,000 after acquiring an additional 273 shares during the period. ProShare Advisors LLC boosted its stake in shares of Kinetik by 3.5% during the 4th quarter. ProShare Advisors LLC now owns 8,633 shares of the company’s stock worth $311,000 after purchasing an additional 294 shares during the period. Maryland State Retirement & Pension System grew its holdings in Kinetik by 5.4% during the 4th quarter. Maryland State Retirement & Pension System now owns 6,612 shares of the company’s stock valued at $238,000 after purchasing an additional 337 shares during the last quarter. Federated Hermes Inc. grew its holdings in Kinetik by 0.4% during the 2nd quarter. Federated Hermes Inc. now owns 89,133 shares of the company’s stock valued at $3,926,000 after purchasing an additional 346 shares during the last quarter. Finally, CWM LLC raised its position in Kinetik by 89.8% in the 4th quarter. CWM LLC now owns 744 shares of the company’s stock worth $27,000 after purchasing an additional 352 shares during the period. Institutional investors own 21.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Clear Str downgraded Kinetik from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. JPMorgan Chase & Co. increased their price target on shares of Kinetik from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Jefferies Financial Group reissued a “hold” rating and set a $51.00 price objective on shares of Kinetik in a research note on Friday, May 8th. Wall Street Zen upgraded Kinetik from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings raised Kinetik from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.27.

Kinetik Company 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.