Kinetik (NYSE:KNTK) Major Shareholder Isq Global Fund Ii Gp Llc Sells 147,516 Shares

Kinetik Holdings Inc. (NYSE:KNTK) major shareholder Isq Global Fund Ii Gp Llc sold 147,516 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $52.03, for a total transaction of $7,675,257.48. Following the sale, the insider owned 1,438,830 shares of the company’s stock, valued at approximately $74,862,324.90. This represents a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more 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 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 Monday, August 10th, Isq Global Fund Ii Gp Llc sold 78,474 shares of Kinetik stock. The shares were 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 shares were sold at an average price of $50.24, for a total value of $1,333,872.00.
• On Thursday, August 6th, Isq Global Fund Ii Gp Llc sold 235,349 shares of Kinetik stock. The stock was sold at an average price of $50.52, for a total value of $11,889,831.48.
• On Monday, August 3rd, Isq Global Fund Ii Gp Llc sold 2,175 shares of Kinetik stock. The stock was sold at an average price of $50.04, for a total value of $108,837.00.

Kinetik Price Performance

Shares of NYSE:KNTK opened at $51.22 on Thursday. Kinetik Holdings Inc. has a 1 year low of $31.33 and a 1 year high of $52.69. The company has a market cap of $8.32 billion, a P/E ratio of 18.56, a PEG ratio of 1.69 and a beta of 0.56. The stock’s fifty day moving average price is $48.64 and its 200-day moving average price is $46.90.

Kinetik (NYSE:KNTK) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.64 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 during the quarter, compared to the consensus estimate of $421.48 million. During the same period last year, the company earned $0.33 EPS. Kinetik’s revenue for the quarter was up 36.3% on a year-over-year basis. On average, sell-side analysts anticipate that Kinetik Holdings Inc. will post 0.97 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on KNTK shares. Zacks Research upgraded shares of Kinetik from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Mizuho lifted their target price on shares of Kinetik from $48.00 to $51.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Tudor Pickering began coverage on shares of Kinetik in a research note on Monday, July 20th. They set a “buy” rating and a $57.00 target price for the company. Royal Bank Of Canada reissued an “outperform” rating and set a $57.00 price target (up from $56.00) on shares of Kinetik in a report on Tuesday. Finally, Barclays set a $51.00 price target on Kinetik and gave the stock an “equal weight” rating in a research note on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $52.87.

Key Headlines Impacting Kinetik

Here are the key news stories impacting Kinetik this week:

• Positive Sentiment: Truist raised its price target to $59 from $53 and maintained a “buy” rating. The new target implies approximately 15.2% upside from the referenced share price, signaling confidence in Kinetik’s growth prospects and valuation. Benzinga analyst report
• Neutral Sentiment: Analysts were reported to have set a price target of $51.40, broadly consistent with Kinetik’s recent trading level. This suggests limited near-term upside under that estimate, although it does not represent a rating downgrade. Analysts set Kinetik price target
• Negative Sentiment: Major shareholder ISQ Global Fund II GP LLC sold 310,691 Kinetik shares from August 10 through August 12 for approximately $16.0 million. The fund’s reported position fell from 1,586,346 shares to 1,354,129 shares, a reduction of about 14.6%. Although the sales may reflect portfolio management rather than concerns about Kinetik’s fundamentals, the size and consecutive timing of the disposals could weigh on investor sentiment and create additional supply. SEC insider transaction filing

Institutional Trading of Kinetik

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWM LLC boosted its stake in shares of Kinetik by 89.8% during the 4th quarter. CWM LLC now owns 744 shares of the company’s stock worth $27,000 after acquiring an additional 352 shares during the last quarter. Signaturefd LLC increased its stake in shares of Kinetik by 101.5% in the 4th quarter. Signaturefd LLC now owns 802 shares of the company’s stock worth $29,000 after purchasing an additional 404 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Kinetik in the 4th quarter worth $33,000. Los Angeles Capital Management LLC bought a new position in Kinetik in the 4th quarter worth $40,000. Finally, Huntington National Bank raised its holdings in Kinetik by 139.1% in the 4th quarter. Huntington National Bank now owns 1,222 shares of the company’s stock worth $44,000 after purchasing an additional 711 shares during the period. 21.11% of the stock is owned by hedge funds and other institutional investors.

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.