Kinetik (NYSE:KNTK) Major Shareholder Isq Global Fund Ii Gp Llc Sells 5,840 Shares of Stock

Kinetik Holdings Inc. (NYSE:KNTK) major shareholder Isq Global Fund Ii Gp Llc sold 5,840 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $55.39, for a total value of $323,477.60. Following the sale, the insider owned 728,328 shares of the company’s stock, valued at approximately $40,342,087.92. This trade represents a 0.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% 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, September 9th, Isq Global Fund Ii Gp Llc sold 4,585 shares of Kinetik stock. The stock was sold at an average price of $55.19, for a total transaction of $253,046.15.
• On Tuesday, September 8th, Isq Global Fund Ii Gp Llc sold 58,383 shares of Kinetik stock. The shares were sold at an average price of $55.14, for a total transaction of $3,219,238.62.
• On Tuesday, September 1st, Isq Global Fund Ii Gp Llc sold 45,428 shares of Kinetik stock. The stock was sold at an average price of $55.06, for a total transaction of $2,501,265.68.
• On Wednesday, August 26th, Isq Global Fund Ii Gp Llc sold 76,260 shares of Kinetik stock. The shares were 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 shares were 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 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 stock was sold at an average price of $51.60, for a total transaction of $5,834,670.00.

Kinetik Stock Performance

Shares of Kinetik stock traded down $0.27 during trading hours on Thursday, reaching $54.28. The company’s stock had a trading volume of 1,660,324 shares, compared to its average volume of 919,753. Kinetik Holdings Inc. has a one year low of $31.33 and a one year high of $56.92. The company’s 50 day simple moving average is $51.68 and its 200 day simple moving average is $48.79. The stock has a market cap of $8.81 billion, a P/E ratio of 18.43, a price-to-earnings-growth ratio of 1.35 and a beta of 0.57.

Kinetik (NYSE:KNTK) last announced 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 business had revenue of $581.44 million during the quarter, compared to the consensus estimate of $421.48 million. Kinetik had a net margin of 26.19% and a negative return on equity of 38.96%. The company’s revenue for the quarter was up 36.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.33 EPS. On average, sell-side analysts predict that Kinetik Holdings Inc. will post 1.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on KNTK. Clear Str downgraded Kinetik from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. Royal Bank Of Canada restated an “outperform” rating and set a $57.00 price target (up from $56.00) on shares of Kinetik in a research report on Tuesday, August 11th. JPMorgan Chase & Co. increased their price objective on shares of Kinetik from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Scotiabank reiterated an “outperform” rating and issued a $58.00 price objective (up from $52.00) on shares of Kinetik in a research report on Thursday. Finally, Weiss Ratings raised shares of Kinetik from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Kinetik currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Miller Howard Investments Inc. NY grew its stake in shares of Kinetik by 69.4% in the first quarter. Miller Howard Investments Inc. NY now owns 146,317 shares of the company’s stock worth $7,083,000 after purchasing an additional 59,942 shares in the last quarter. Infrastructure Capital Advisors LLC bought a new stake in shares of Kinetik during the fourth quarter valued at about $9,323,000. HighTower Advisors LLC raised its stake in shares of Kinetik by 33.1% during the fourth quarter. HighTower Advisors LLC now owns 102,906 shares of the company’s stock valued at $3,710,000 after purchasing an additional 25,574 shares in the last quarter. Diversify Wealth Management LLC acquired a new stake in Kinetik in the first quarter worth about $1,612,000. Finally, SG Americas Securities LLC lifted its holdings in Kinetik by 92.6% in the first quarter. SG Americas Securities LLC now owns 274,447 shares of the company’s stock worth $13,286,000 after purchasing an additional 131,971 shares during the period. Institutional investors and hedge funds own 21.11% of the company’s stock.

Kinetik Company Profile

Kinetik Holdings Inc (NYSE: KNTK) is a midstream energy company that provides gathering, processing, transportation and logistics services for oil and natural gas producers. The company’s operations are focused primarily on the Delaware Basin, a major producing region within the Permian Basin of West Texas and southeastern New Mexico.

Kinetik’s services include natural gas gathering and processing, natural gas liquids transportation and handling, crude oil logistics, and long-haul natural gas transportation.