Kinetik (NYSE:KNTK) Stock: Insider Isq Global Fund Ii Gp Llc Sells 14,889 Shares

Kinetik Holdings Inc. (NYSE:KNTK) major shareholder Isq Global Fund Ii Gp Llc sold 14,889 shares of the business’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $55.07, for a total transaction of $819,937.23. Following the completion of the sale, the insider owned 961,114 shares of the company’s stock, valued at approximately $52,928,547.98. The trade was a 1.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Monday, November 2nd, Isq Global Fund Ii Gp Llc sold 3,267 shares of Kinetik stock. The shares were sold at an average price of $55.13, for a total transaction of $180,109.71.
• On Friday, October 30th, Isq Global Fund Ii Gp Llc sold 20,731 shares of Kinetik stock. The shares were sold at an average price of $56.69, for a total transaction of $1,175,240.39.
• On Tuesday, October 13th, Isq Global Fund Ii Gp Llc sold 2,000,000 shares of Kinetik stock. The shares were sold at an average price of $54.77, for a total transaction of $109,540,000.00.
• On Monday, October 12th, Isq Global Fund Ii Gp Llc sold 38,377 shares of Kinetik stock. The stock was sold at an average price of $54.19, for a total transaction of $2,079,649.63.
• On Friday, October 9th, Isq Global Fund Ii Gp Llc sold 58,439 shares of Kinetik stock. The stock was sold at an average price of $54.21, for a total transaction of $3,167,978.19.
• On Thursday, October 8th, Isq Global Fund Ii Gp Llc sold 119,203 shares of Kinetik stock. The stock was sold at an average price of $54.29, for a total transaction of $6,471,530.87.
• On Wednesday, October 7th, Isq Global Fund Ii Gp Llc sold 58,464 shares of Kinetik stock. The stock was sold at an average price of $53.79, for a total transaction of $3,144,778.56.
• On Tuesday, October 6th, Isq Global Fund Ii Gp Llc sold 94,570 shares of Kinetik stock. The shares were sold at an average price of $54.00, for a total transaction of $5,106,780.00.
• On Monday, October 5th, Isq Global Fund Ii Gp Llc sold 15,088 shares of Kinetik stock. The shares were sold at an average price of $53.53, for a total transaction of $807,660.64.
• On Wednesday, September 23rd, Isq Global Fund Ii Gp Llc sold 24,194 shares of Kinetik stock. The shares were sold at an average price of $53.55, for a total value of $1,295,588.70.

Kinetik Trading Down 5.1%

Shares of NYSE:KNTK opened at $51.50 on Thursday. The stock has a market capitalization of $8.36 billion, a P/E ratio of 18.66, a price-to-earnings-growth ratio of 1.21 and a beta of 0.67. The stock’s 50-day moving average price is $54.07 and its 200-day moving average price is $48.86. Kinetik Holdings Inc. has a 12-month low of $31.33 and a 12-month high of $58.90.

Kinetik (NYSE:KNTK) last released its earnings results on Wednesday, November 4th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.14). Kinetik had a net margin of 26.19% and a negative return on equity of 38.96%. The business’s revenue was up 22.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.03 earnings per share. As a group, research analysts predict that Kinetik Holdings Inc. will post 1.44 EPS for the current year.

Kinetik News Summary

Here are the key news stories impacting Kinetik this week:

• Positive Sentiment: Zacks upgraded Kinetik to Rank #2 (Buy), citing improving optimism about the company’s earnings prospects. Read the Zacks report
• Negative Sentiment: Kinetik reported quarterly EPS of $0.26, missing the $0.40 consensus estimate by $0.14. The earnings shortfall is the clearest near-term negative catalyst for the stock. Read the earnings update
• Negative Sentiment: Major shareholder ISQ Global Fund II GP LLC disclosed multiple stock sales, including transactions in late October and early November. The latest sales were small relative to its remaining stake, but the ongoing selling may weigh on sentiment. Read the shareholder-trading report

Institutional Trading of Kinetik

A number of institutional investors have recently modified their holdings of KNTK. Allworth Financial LP lifted its holdings in Kinetik by 72.4% in the 2nd quarter. Allworth Financial LP now owns 569 shares of the company’s stock worth $28,000 after buying an additional 239 shares during the period. GAMMA Investing LLC grew its position in shares of Kinetik by 10.5% in the 2nd quarter. GAMMA Investing LLC now owns 2,882 shares of the company’s stock worth $139,000 after buying an additional 273 shares during the last quarter. Royal Fund Management LLC increased its stake in shares of Kinetik by 1.3% during the third quarter. Royal Fund Management LLC now owns 21,876 shares of the company’s stock valued at $1,098,000 after buying an additional 289 shares during the period. ProShare Advisors LLC increased its stake in shares of Kinetik by 4.0% during the third quarter. ProShare Advisors LLC now owns 7,676 shares of the company’s stock valued at $385,000 after buying an additional 295 shares during the period. Finally, Signaturefd LLC increased its stake in shares of Kinetik by 21.3% during the third quarter. Signaturefd LLC now owns 1,714 shares of the company’s stock valued at $86,000 after buying an additional 301 shares during the period. 21.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the company. JPMorgan Chase & Co. lifted their price target on Kinetik from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Truist Financial increased their price objective on Kinetik from $53.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Wells Fargo & Company reissued an “overweight” rating and set a $54.00 price objective on shares of Kinetik in a research note on Monday, August 10th. The Goldman Sachs Group restated a “buy” rating and issued a $58.00 target price on shares of Kinetik in a report on Wednesday, October 14th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $57.00 target price on shares of Kinetik in a research note on Tuesday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.47.

Kinetik Company Profile

Kinetik Holdings Inc is a midstream energy company that provides infrastructure and services for the gathering, processing, transportation and treatment of natural gas, crude oil and natural gas liquids. Its operations are focused primarily on the Permian Basin, where it connects hydrocarbon production to processing facilities, pipelines and downstream markets.

The company’s assets include natural gas gathering and processing systems, crude oil gathering infrastructure, natural gas liquids services and long-haul pipeline interests.