Isq Global Fund Ii Gp Llc Sells 6,963 Shares of Kinetik (NYSE:KNTK) Stock

Kinetik Holdings Inc. (NYSE:KNTK) major shareholder Isq Global Fund Ii Gp Llc sold 6,963 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $55.17, for a total value of $384,148.71. Following the transaction, the insider owned 918,824 shares in the company, valued at $50,691,520.08. This represents a 0.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares 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 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 value of $5,998,316.80.
• On Thursday, August 13th, Isq Global Fund Ii Gp Llc sold 113,075 shares of Kinetik stock. The shares were sold at an average price of $51.60, for a total value of $5,834,670.00.
• 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 transaction 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 Monday, August 10th, Isq Global Fund Ii Gp Llc sold 78,474 shares of Kinetik stock. The stock was sold at an average price of $50.87, for a total transaction of $3,991,972.38.
• On Friday, August 7th, Isq Global Fund Ii Gp Llc sold 26,550 shares of Kinetik stock. The stock was 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.

Kinetik Stock Up 1.5%

Shares of NYSE KNTK opened at $55.05 on Thursday. The firm has a market cap of $8.94 billion, a price-to-earnings ratio of 19.95, a price-to-earnings-growth ratio of 1.34 and a beta of 0.56. The company’s 50-day simple moving average is $50.23 and its 200-day simple moving average is $47.86. Kinetik Holdings Inc. has a 52-week low of $31.33 and a 52-week high of $56.10.

Kinetik (NYSE:KNTK) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.45. The firm 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 EPS. Equities research analysts anticipate that Kinetik Holdings Inc. will post 1.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Kinetik

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings 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 acquiring an additional 273 shares during the last quarter. ProShare Advisors LLC increased its holdings in Kinetik by 3.5% in the 4th quarter. ProShare Advisors LLC now owns 8,633 shares of the company’s stock valued at $311,000 after purchasing an additional 294 shares during the last quarter. Maryland State Retirement & Pension System increased its holdings in Kinetik by 5.4% in the 4th quarter. Maryland State Retirement & Pension System now owns 6,612 shares of the company’s stock valued at $238,000 after purchasing an additional 337 shares during the last quarter. Federated Hermes Inc. raised its position in Kinetik by 0.4% in the second quarter. Federated Hermes Inc. now owns 89,133 shares of the company’s stock valued at $3,926,000 after purchasing an additional 346 shares during the period. Finally, CWM LLC raised its position in Kinetik by 89.8% in the fourth quarter. CWM LLC now owns 744 shares of the company’s stock valued at $27,000 after purchasing an additional 352 shares during the period. 21.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KNTK has been the topic of several research reports. Wall Street Zen upgraded Kinetik from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 8th. Raymond James Financial reiterated an “outperform” rating and set a $55.00 price target on shares of Kinetik in a research report on Friday, August 7th. Clear Str downgraded Kinetik from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. Barclays set a $51.00 price objective on Kinetik and gave the company an “equal weight” rating in a report on Thursday, August 6th. Finally, Zacks Research raised shares of Kinetik from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Kinetik has an average rating of “Moderate Buy” and a consensus target price of $53.27.

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.