Kinetik (NYSE:KNTK) Major Shareholder Isq Global Fund Ii Gp Llc Sells 14,889 Shares of Company Stock

Kinetik Holdings Inc. (NYSE:KNTK) major shareholder Isq Global Fund Ii Gp Llc sold 14,889 shares of the firm’s stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $55.07, for a total value of $819,937.23. Following the completion of the transaction, the insider directly owned 961,114 shares of the company’s stock, valued at $52,928,547.98. The trade was a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more 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 Monday, November 2nd, Isq Global Fund Ii Gp Llc sold 3,267 shares of Kinetik stock. The shares were sold at an average price of $55.13, for a total value of $180,109.71.
• On Friday, October 30th, Isq Global Fund Ii Gp Llc sold 20,731 shares of Kinetik stock. The shares were sold at an average price of $56.69, for a total value of $1,175,240.39.
• On Tuesday, October 13th, Isq Global Fund Ii Gp Llc sold 2,000,000 shares of Kinetik stock. The shares were sold at an average price of $54.77, for a total value of $109,540,000.00.
• On Monday, October 12th, Isq Global Fund Ii Gp Llc sold 38,377 shares of Kinetik stock. The stock was sold at an average price of $54.19, for a total value of $2,079,649.63.
• On Friday, October 9th, Isq Global Fund Ii Gp Llc sold 58,439 shares of Kinetik stock. The stock was sold at an average price of $54.21, for a total value of $3,167,978.19.
• On Thursday, October 8th, Isq Global Fund Ii Gp Llc sold 119,203 shares of Kinetik stock. The stock was sold at an average price of $54.29, for a total value of $6,471,530.87.
• On Wednesday, October 7th, Isq Global Fund Ii Gp Llc sold 58,464 shares of Kinetik stock. The stock was sold at an average price of $53.79, for a total value of $3,144,778.56.
• On Tuesday, October 6th, Isq Global Fund Ii Gp Llc sold 94,570 shares of Kinetik stock. The shares were sold at an average price of $54.00, for a total value of $5,106,780.00.
• On Monday, October 5th, Isq Global Fund Ii Gp Llc sold 15,088 shares of Kinetik stock. The shares were sold at an average price of $53.53, for a total value of $807,660.64.
• On Wednesday, September 23rd, Isq Global Fund Ii Gp Llc sold 24,194 shares of Kinetik stock. The shares were sold at an average price of $53.55, for a total value of $1,295,588.70.

Kinetik Stock Up 1.4%

Shares of KNTK opened at $54.31 on Wednesday. The business’s 50-day moving average price is $54.13 and its 200-day moving average price is $48.79. Kinetik Holdings Inc. has a twelve month low of $31.33 and a twelve month high of $58.90. The stock has a market cap of $8.82 billion, a PE ratio of 19.68, a P/E/G ratio of 1.19 and a beta of 0.67.

Kinetik (NYSE:KNTK) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.45. Kinetik had a net margin of 26.19% and a negative return on equity of 38.96%. The firm had revenue of $581.44 million for the quarter, compared to the consensus estimate of $421.48 million. During the same period in the prior year, the firm posted $0.33 earnings per share. The company’s revenue for the quarter was up 36.3% on a year-over-year basis. Analysts expect that Kinetik Holdings Inc. will post 1.44 earnings per share for the current fiscal year.

Institutional Trading of Kinetik

A number of large investors have recently modified their holdings of KNTK. Allworth Financial LP grew its stake in Kinetik by 72.4% in the 2nd quarter. Allworth Financial LP now owns 569 shares of the company’s stock worth $28,000 after buying an additional 239 shares in the last quarter. GAMMA Investing LLC increased 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 buying an additional 273 shares during the last quarter. Royal Fund Management LLC raised its position in shares of Kinetik by 1.3% during the 3rd quarter. Royal Fund Management LLC now owns 21,876 shares of the company’s stock valued at $1,098,000 after buying an additional 289 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Kinetik by 4.0% during the 3rd quarter. ProShare Advisors LLC now owns 7,676 shares of the company’s stock valued at $385,000 after buying an additional 295 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of Kinetik by 21.3% during the 3rd quarter. Signaturefd LLC now owns 1,714 shares of the company’s stock valued at $86,000 after buying an additional 301 shares in the last quarter. Institutional investors own 21.11% of the company’s stock.

Wall Street Analyst Weigh In

KNTK has been the topic of a number of analyst reports. Morgan Stanley decreased their target price on shares of Kinetik from $70.00 to $67.00 and set an “overweight” rating on the stock in a report on Wednesday, October 21st. Zacks Research downgraded shares of Kinetik from a “strong-buy” rating to a “hold” rating in a report on Friday, October 30th. Jefferies Financial Group restated a “hold” rating and set a $54.00 price target (down from $56.00) on shares of Kinetik in a research report on Monday, October 19th. Citigroup restated a “buy” rating and set a $55.00 price target (up from $52.00) on shares of Kinetik in a research report on Tuesday, August 11th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $58.00 price target on shares of Kinetik in a report on Wednesday, October 14th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Kinetik currently has an average rating of “Moderate Buy” and a consensus price target of $55.47.

Kinetik Company Profile

Kinetik Holdings Inc is a midstream energy company that provides infrastructure and services for the gathering, processing, transportation and treatment of natural gas, crude oil and natural gas liquids. Its operations are focused primarily on the Permian Basin, where it connects hydrocarbon production to processing facilities, pipelines and downstream markets.

The company’s assets include natural gas gathering and processing systems, crude oil gathering infrastructure, natural gas liquids services and long-haul pipeline interests.