Kinetik (NYSE:KNTK) Stock: Insider Isq Global Fund Ii Gp Llc Sells 2,000,000 Shares

Kinetik Holdings Inc. (NYSE:KNTK) major shareholder Isq Global Fund Ii Gp Llc sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 13th. The stock was sold at an average price of $54.77, for a total transaction of $109,540,000.00. Following the sale, the insider owned 1 shares of the company’s stock, valued at $54.77. The trade was a 100.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% 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 Monday, October 12th, Isq Global Fund Ii Gp Llc sold 38,377 shares of Kinetik stock. The shares were 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 shares were 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 stock was 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 stock was sold at an average price of $53.53, for a total transaction 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 transaction of $1,295,588.70.
• On Tuesday, September 22nd, Isq Global Fund Ii Gp Llc sold 39,937 shares of Kinetik stock. The shares were sold at an average price of $53.72, for a total transaction of $2,145,415.64.
• 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 transaction of $1,152,774.49.
• On Friday, September 18th, Isq Global Fund Ii Gp Llc sold 135,084 shares of Kinetik stock. The stock was sold at an average price of $54.25, for a total transaction of $7,328,307.00.

Kinetik Trading Down 1.8%

NYSE:KNTK traded down $0.96 during trading hours on Thursday, hitting $53.63. 1,588,881 shares of the stock traded hands, compared to its average volume of 1,185,667. The firm has a 50 day moving average price of $53.39 and a 200 day moving average price of $50.05. The firm has a market cap of $8.71 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 1.37 and a beta of 0.61. Kinetik Holdings Inc. has a fifty-two week low of $31.33 and a fifty-two week high of $56.92.

Kinetik (NYSE:KNTK) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.45. Kinetik had a negative return on equity of 38.96% and a net margin of 26.19%. The business had revenue of $581.44 million for the quarter, compared to the consensus estimate of $421.48 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. Kinetik’s revenue for the quarter was up 36.3% compared to the same quarter last year. Research analysts predict that Kinetik Holdings Inc. will post 1.30 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on KNTK shares. Wells Fargo & Company reaffirmed an “overweight” rating and set a $54.00 target price on shares of Kinetik in a research note on Monday, August 10th. Barclays increased their price target on shares of Kinetik from $51.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday. JPMorgan Chase & Co. raised their price target on shares of Kinetik from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Royal Bank Of Canada raised their price target on shares of Kinetik from $57.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Wall Street Zen raised shares of Kinetik from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 8th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $55.67.

Trending Headlines about Kinetik

Here are the key news stories impacting Kinetik this week:

• Positive Sentiment: RBC Capital Markets expects Kinetik’s third-quarter results to exceed company guidance, reinforcing confidence in operating performance and near-term earnings momentum. Kinetik Q3 Earnings Expected to Top Guidance, RBC Capital Markets Says
• Positive Sentiment: RBC raised its price target from $57 to $58 and maintained an “outperform” rating, implying additional upside from recent trading levels. RBC Raises Price Target on Kinetik Holdings to $58 From $57
• Positive Sentiment: Goldman Sachs reiterated its “buy” rating, while Barclays lifted its price objective to $56 from $51. These actions add to a generally constructive analyst view of Kinetik. Goldman Sachs Sticks to Its Buy Rating for Kinetik Barclays Forecasts Strong Price Appreciation for Kinetik
• Positive Sentiment: Kinetik declared its quarterly cash dividend, payable October 30, giving income-focused investors continued visibility into shareholder returns. Kinetik Announces Quarterly Cash Dividend
• Neutral Sentiment: Coverage highlights Kinetik’s strong recent performance and its position as a Delaware Basin midstream operator, with the stock trading close to its annual high. What Explains Kinetik Near Its Annual High?
• Negative Sentiment: Major shareholder ISQ Global Fund II GP LLC disclosed repeated sales totaling hundreds of thousands of shares, including a transaction that reduced its holding to one share. The disposals may create a technical supply overhang, although they could also reflect portfolio rebalancing rather than a change in Kinetik’s fundamentals. Kinetik Major Shareholder Sells Shares

Institutional Trading of Kinetik

Hedge funds and other institutional investors have recently modified their holdings of the company. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in Kinetik by 1.7% in the first quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,874,000 shares of the company’s stock valued at $90,720,000 after purchasing an additional 30,600 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Kinetik by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 687,553 shares of the company’s stock valued at $33,285,000 after buying an additional 8,513 shares during the last quarter. Crawford Investment Counsel Inc. lifted its holdings in shares of Kinetik by 30.5% during the 4th quarter. Crawford Investment Counsel Inc. now owns 403,348 shares of the company’s stock valued at $14,541,000 after buying an additional 94,173 shares during the last quarter. NEOS Investment Management LLC grew its stake in shares of Kinetik by 30.9% in the 2nd quarter. NEOS Investment Management LLC now owns 392,128 shares of the company’s stock valued at $18,955,000 after buying an additional 92,637 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its holdings in Kinetik by 107.1% in the first 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. 21.11% of the stock is currently owned by hedge funds and other institutional investors.

About Kinetik

Kinetik Holdings Inc (NYSE: KNTK) is a midstream energy company that provides infrastructure and logistics services for natural gas, natural gas liquids (NGLs), crude oil and produced water. The company primarily serves producers operating in the Delaware Basin, a major oil and gas-producing region within the Permian Basin of West Texas and southeastern New Mexico.

Kinetik’s operations include natural gas gathering, compression, processing and transportation, as well as NGL transportation and pipeline logistics.