Kinetik Holdings Inc. (NYSE:KNTK – Get Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 1,025 shares of the firm’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $55.15, for a total value of $56,528.75. Following the completion of the sale, the insider directly owned 727,303 shares in the company, valued at approximately $40,110,760.45. This represents a 0.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own more than 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 16th, Isq Global Fund Ii Gp Llc sold 8,772 shares of Kinetik stock. The stock was sold at an average price of $55.06, for a total value of $482,986.32.
- On Tuesday, September 15th, Isq Global Fund Ii Gp Llc sold 4,686 shares of Kinetik stock. The stock was sold at an average price of $55.11, for a total value of $258,245.46.
- On Thursday, September 10th, Isq Global Fund Ii Gp Llc sold 5,840 shares of Kinetik stock. The shares were sold at an average price of $55.39, for a total value of $323,477.60.
- 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 value 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 shares were 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 stock was sold at an average price of $55.28, for a total transaction of $4,215,652.80.
- 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 transaction 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 transaction 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.
Kinetik Stock Down 0.2%
Shares of KNTK stock opened at $53.59 on Friday. The firm has a market capitalization of $8.70 billion, a P/E ratio of 19.42, a P/E/G ratio of 1.33 and a beta of 0.57. Kinetik Holdings Inc. has a twelve month low of $31.33 and a twelve month high of $56.92. The stock’s fifty day simple moving average is $52.39 and its 200 day simple moving average is $49.15.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on KNTK. Citigroup reiterated a “buy” rating and set a $55.00 price target (up from $52.00) on shares of Kinetik in a report on Tuesday, August 11th. Tudor Pickering began coverage on Kinetik in a report on Monday, July 20th. They issued a “buy” rating and a $57.00 target price on the stock. Morgan Stanley reissued an “overweight” rating and set a $70.00 target price (up from $64.00) on shares of Kinetik in a research report on Tuesday, August 18th. JPMorgan Chase & Co. raised their price target on shares of Kinetik from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $54.00 price target on shares of Kinetik in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.00.
View Our Latest Research Report on Kinetik
Hedge Funds Weigh In On Kinetik
Institutional investors have recently made changes to their positions in the stock. Miller Howard Investments Inc. NY raised its holdings in shares of Kinetik by 69.4% in the 1st quarter. Miller Howard Investments Inc. NY now owns 146,317 shares of the company’s stock worth $7,083,000 after acquiring an additional 59,942 shares during the last quarter. Infrastructure Capital Advisors LLC acquired a new position in Kinetik during the 4th quarter valued at about $9,323,000. HighTower Advisors LLC boosted its stake in Kinetik by 33.1% during the 4th 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 during the last quarter. Diversify Wealth Management LLC bought a new stake in Kinetik during the 1st quarter worth approximately $1,612,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Kinetik in the second quarter worth approximately $17,364,000. Institutional investors and hedge funds own 21.11% of the company’s stock.
About Kinetik
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.
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