Isq Global Fund Ii Gp Llc Sells 78,474 Shares of Kinetik (NYSE:KNTK) Stock

Kinetik Holdings Inc. (NYSE:KNTK) major shareholder Isq Global Fund Ii Gp Llc sold 78,474 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $50.87, for a total value of $3,991,972.38. Following the transaction, the insider directly owned 1,586,346 shares in the company, valued at $80,697,421.02. The trade was a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock 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 Wednesday, August 12th, Isq Global Fund Ii Gp Llc sold 84,701 shares of Kinetik stock. The shares were sold at an average price of $51.52, for a total value 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 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.
• On Thursday, August 6th, Isq Global Fund Ii Gp Llc sold 235,349 shares of Kinetik stock. The shares were sold at an average price of $50.52, for a total transaction of $11,889,831.48.
• On Monday, August 3rd, Isq Global Fund Ii Gp Llc sold 2,175 shares of Kinetik stock. The stock was sold at an average price of $50.04, for a total transaction of $108,837.00.

Kinetik Stock Performance

Shares of KNTK stock opened at $51.63 on Friday. Kinetik Holdings Inc. has a 52 week low of $31.33 and a 52 week high of $52.69. The company has a market capitalization of $8.38 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 1.69 and a beta of 0.56. The company has a 50-day simple moving average of $48.76 and a 200 day simple moving average of $46.99.

Kinetik (NYSE:KNTK) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.45. The firm had revenue of $581.44 million for the quarter, compared to analysts’ expectations of $421.48 million. Kinetik had a net margin of 26.19% and a negative return on equity of 38.96%. The business’s revenue was up 36.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 EPS. Sell-side analysts forecast that Kinetik Holdings Inc. will post 0.97 EPS for the current year.

More Kinetik News

Here are the key news stories impacting Kinetik this week:

• Positive Sentiment: Truist raised its Kinetik price target to $59 from $53 and maintained a “buy” rating. The higher target implies meaningful upside from recent trading levels and signals increased confidence in the company’s outlook. Benzinga analyst report
• Positive Sentiment: Kinetik received a rating upgrade in a recent Seeking Alpha analysis. The report said factors affecting upstream activity are likely to dominate the company’s performance, providing a more constructive view of its growth and operating prospects. Seeking Alpha Kinetik analysis
• Neutral Sentiment: Kinetik’s latest quarterly results remain a favorable fundamental backdrop: revenue increased 36.3% year over year to $581.44 million, while adjusted earnings of $0.64 per share exceeded the $0.19 consensus estimate. However, this information was previously reported and may already be reflected in the stock’s valuation.
• Negative Sentiment: Major shareholder ISQ Global Fund II GP LLC sold 310,691 shares between August 10 and August 12 for approximately $16.0 million. The repeated sales reduce the fund’s position and could pressure the stock by adding share supply or raising concerns about near-term insider conviction. SEC shareholder transaction filing
• Negative Sentiment: Director Deborah L. Byers sold 2,739 shares at an average price of $51.51, reducing her holdings by about 10%. The sale is relatively modest but adds to the recent pattern of insider disposals. SEC director transaction filing

Institutional Trading of Kinetik

Several large investors have recently modified their holdings of KNTK. Miller Howard Investments Inc. NY lifted its stake in Kinetik by 69.4% in the 1st quarter. Miller Howard Investments Inc. NY now owns 146,317 shares of the company’s stock valued at $7,083,000 after purchasing an additional 59,942 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Kinetik by 9.4% during the fourth quarter. Vanguard Group Inc. now owns 5,096,786 shares of the company’s stock worth $183,739,000 after buying an additional 439,586 shares during the last quarter. Infrastructure Capital Advisors LLC acquired a new position in shares of Kinetik during the fourth quarter worth $9,323,000. HighTower Advisors LLC increased its holdings in shares of Kinetik by 33.1% during the fourth quarter. HighTower Advisors LLC now owns 102,906 shares of the company’s stock worth $3,710,000 after buying an additional 25,574 shares in the last quarter. Finally, Jennison Associates LLC lifted its stake in shares of Kinetik by 33.0% in the 4th quarter. Jennison Associates LLC now owns 270,126 shares of the company’s stock valued at $9,738,000 after acquiring an additional 66,992 shares during the last quarter. 21.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Barclays set a $51.00 price target on Kinetik and gave the stock an “equal weight” rating in a report on Thursday, August 6th. Citigroup reiterated a “buy” rating and set a $55.00 price objective (up from $52.00) on shares of Kinetik in a research report on Tuesday. Jefferies Financial Group reissued a “hold” rating and set a $51.00 target price on shares of Kinetik in a report on Friday, May 8th. US Capital Advisors upgraded shares of Kinetik from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, May 29th. Finally, Truist Financial upped their price target on shares of Kinetik from $53.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.87.

About Kinetik

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.