Jump Financial LLC Has $2.38 Million Stock Holdings in Kinetik Holdings Inc. (NASDAQ:KNTK)

Jump Financial LLC boosted its position in shares of Kinetik Holdings Inc. (NASDAQ:KNTK) by 73.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,880 shares of the company’s stock after purchasing an additional 17,778 shares during the quarter. Jump Financial LLC’s holdings in Kinetik were worth $2,375,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. XTX Topco Ltd bought a new stake in shares of Kinetik in the 4th quarter valued at $650,000. Sterling Capital Management LLC grew its position in shares of Kinetik by 789.4% in the 4th quarter. Sterling Capital Management LLC now owns 1,094 shares of the company’s stock valued at $62,000 after purchasing an additional 971 shares during the period. CenterBook Partners LP increased its stake in Kinetik by 36.8% during the 4th quarter. CenterBook Partners LP now owns 55,279 shares of the company’s stock worth $3,135,000 after purchasing an additional 14,879 shares in the last quarter. FIL Ltd acquired a new stake in Kinetik during the 4th quarter worth approximately $3,004,000. Finally, Legal & General Group Plc lifted its stake in Kinetik by 13.5% in the fourth quarter. Legal & General Group Plc now owns 42,201 shares of the company’s stock valued at $2,393,000 after buying an additional 5,034 shares in the last quarter. 21.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Isq Global Fund Ii Gp Llc sold 1,044,519 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $52.66, for a total transaction of $55,004,370.54. Following the transaction, the insider now owns 657,583 shares in the company, valued at approximately $34,628,320.78. This trade represents a 61.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.71% of the company’s stock.

Kinetik Stock Up 0.9 %

NASDAQ:KNTK opened at $43.73 on Friday. Kinetik Holdings Inc. has a 12-month low of $37.65 and a 12-month high of $67.60. The stock’s 50 day moving average price is $51.99 and its two-hundred day moving average price is $55.25. The firm has a market capitalization of $6.90 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 1.52 and a beta of 2.68.

Kinetik Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Friday, April 25th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $3.12 annualized dividend and a dividend yield of 7.13%. Kinetik’s dividend payout ratio is currently 305.88%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Kinetik from $63.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, January 15th. Barclays increased their price objective on Kinetik from $57.00 to $58.00 and gave the stock an “equal weight” rating in a report on Wednesday. US Capital Advisors raised Kinetik from a “hold” rating to a “moderate buy” rating in a research report on Monday, April 7th. Scotiabank lowered their price objective on shares of Kinetik from $62.00 to $60.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th. Finally, Royal Bank of Canada decreased their target price on shares of Kinetik from $67.00 to $63.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $59.75.

Kinetik Company Profile

Kinetik Holdings Inc operates as a midstream company in the Texas Delaware Basin. The company operates through two segments, Midstream Logistics and Pipeline Transportation. It provides gathering, transportation, compression, processing, stabilization, treating, storage, and transportation services for companies that produce natural gas, natural gas liquids, and crude oil; and water gathering and disposal services.