Kinetik (NYSE:KNTK) Major Shareholder Isq Global Fund Ii Gp Llc Sells 39,937 Shares of Stock

Kinetik Holdings Inc. (NYSE:KNTK – Get Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 39,937 shares of the company’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $53.72, for a total value of $2,145,415.64. Following the completion of the transaction, the insider directly owned 408,336 shares of the company’s stock, valued at $21,935,809.92. The trade was a 8.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own 10% or more 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 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.
  • On Monday, September 21st, Isq Global Fund Ii Gp Llc sold 21,511 shares of Kinetik stock. The stock was sold at an average price of $53.59, for a total value of $1,152,774.49.
  • On Friday, September 18th, Isq Global Fund Ii Gp Llc sold 135,084 shares of Kinetik stock. The shares were sold at an average price of $54.25, for a total value of $7,328,307.00.
  • On Thursday, September 17th, Isq Global Fund Ii Gp Llc sold 108,977 shares of Kinetik stock. The shares were sold at an average price of $53.84, for a total transaction of $5,867,321.68.
  • 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 transaction 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 transaction of $258,245.46.
  • On Monday, September 14th, Isq Global Fund Ii Gp Llc sold 1,025 shares of Kinetik stock. The stock was sold at an average price of $55.15, for a total transaction of $56,528.75.
  • 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 transaction of $323,477.60.
  • On Wednesday, September 9th, Isq Global Fund Ii Gp Llc sold 4,585 shares of Kinetik stock. The shares were sold at an average price of $55.19, for a total transaction of $253,046.15.
  • On Tuesday, September 8th, Isq Global Fund Ii Gp Llc sold 58,383 shares of Kinetik stock. The stock was sold at an average price of $55.14, for a total transaction of $3,219,238.62.

Kinetik Stock Down 1.2%

KNTK opened at $52.29 on Friday. Kinetik Holdings Inc. has a twelve month low of $31.33 and a twelve month high of $56.92. The company has a 50-day moving average price of $52.62 and a 200 day moving average price of $49.36. The company has a market cap of $8.49 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 1.29 and a beta of 0.57.

Kinetik (NYSE:KNTK – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.45. Kinetik had a negative return on equity of 38.96% and a net margin of 26.19%.The company had revenue of $581.44 million for the quarter, compared to analysts’ expectations of $421.48 million. During the same period in the previous year, the firm posted $0.33 EPS. Kinetik’s revenue was up 36.3% compared to the same quarter last year. As a group, sell-side analysts expect that Kinetik Holdings Inc. will post 1.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Royal Bank Of Canada reiterated an “outperform” rating and set a $57.00 price target (up from $56.00) on shares of Kinetik in a research report on Tuesday, August 11th. Wall Street Zen raised shares of Kinetik from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research lowered shares of Kinetik from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. JPMorgan Chase & Co. increased their target price on shares of Kinetik from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Finally, Weiss Ratings raised shares of Kinetik from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Check Out Our Latest Analysis on Kinetik

Hedge Funds Weigh In On Kinetik

Several hedge funds have recently made changes to their positions in KNTK. Cohen & Steers Inc. raised its holdings in shares of Kinetik by 82.5% in the fourth quarter. Cohen & Steers Inc. now owns 1,843,506 shares of the company’s stock valued at $66,458,000 after buying an additional 833,224 shares during the last quarter. SIR Capital Management L.P. grew its holdings in shares of Kinetik by 195.1% during the fourth quarter. SIR Capital Management L.P. now owns 672,090 shares of the company’s stock worth $24,229,000 after buying an additional 444,368 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Kinetik during the second quarter worth about $17,364,000. Infrastructure Capital Advisors LLC acquired a new position in shares of Kinetik in the fourth quarter valued at approximately $9,323,000. Finally, Pictet Asset Management Holding SA raised its position in Kinetik by 107.1% during the 1st quarter. Pictet Asset Management Holding SA now owns 365,652 shares of the company’s stock worth $17,701,000 after buying an additional 189,065 shares during the last quarter. Hedge funds and other institutional investors own 21.11% of the company’s stock.

About Kinetik

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Kinetik (NYSE:KNTK)

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