Kinetik Holdings Inc. $KNTK Shares Acquired by Aventail Capital Group LP

Aventail Capital Group LP grew its position in Kinetik Holdings Inc. (NYSE:KNTK) by 122.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,612 shares of the company’s stock after purchasing an additional 67,437 shares during the period. Aventail Capital Group LP’s holdings in Kinetik were worth $4,420,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Boothbay Fund Management LLC lifted its position in Kinetik by 40.5% during the 4th quarter. Boothbay Fund Management LLC now owns 8,319 shares of the company’s stock worth $300,000 after acquiring an additional 2,399 shares in the last quarter. Guggenheim Capital LLC acquired a new position in Kinetik during the 4th quarter worth approximately $318,000. AQR Capital Management LLC lifted its position in Kinetik by 71.3% during the 4th quarter. AQR Capital Management LLC now owns 11,922 shares of the company’s stock worth $430,000 after acquiring an additional 4,964 shares in the last quarter. Cetera Investment Advisers lifted its position in Kinetik by 42.1% during the 4th quarter. Cetera Investment Advisers now owns 28,409 shares of the company’s stock worth $1,024,000 after acquiring an additional 8,416 shares in the last quarter. Finally, Amundi acquired a new position in Kinetik during the 4th quarter worth approximately $428,000. 21.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Kinetik

In other news, major shareholder Isq Global Fund Ii Gp Llc sold 534,564 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $50.52, for a total value of $27,006,173.28. Following the completion of the sale, the insider directly owned 428,894 shares in the company, valued at approximately $21,667,724.88. The trade was a 55.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 1,071,107 shares of company stock valued at $53,172,463. 3.56% of the stock is currently owned by insiders.

Kinetik Trading Up 0.6%

Shares of NYSE KNTK opened at $45.68 on Thursday. Kinetik Holdings Inc. has a twelve month low of $31.33 and a twelve month high of $51.51. The company has a market capitalization of $7.42 billion, a price-to-earnings ratio of 18.64, a price-to-earnings-growth ratio of 2.34 and a beta of 0.57. The business has a 50 day simple moving average of $47.75 and a 200-day simple moving average of $43.26.

Kinetik (NYSE:KNTK) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.23). Kinetik had a net margin of 28.58% and a negative return on equity of 36.36%. The firm had revenue of $409.98 million during the quarter. During the same period last year, the business earned $0.05 EPS. The company’s revenue was down 7.5% on a year-over-year basis. As a group, equities analysts predict that Kinetik Holdings Inc. will post 0.62 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. US Capital Advisors raised Kinetik from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, May 29th. Royal Bank Of Canada boosted their price target on Kinetik from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Friday, June 5th. Mizuho boosted their price target on Kinetik from $48.00 to $51.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. UBS Group reduced their price target on Kinetik from $49.00 to $48.00 and set a “neutral” rating on the stock in a research report on Monday, March 16th. Finally, Wall Street Zen lowered Kinetik from a “sell” rating to a “strong sell” rating in a research report on Sunday, May 17th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.17.

Kinetik Profile

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.