Isq Global Fund Ii Gp Llc Sells 45,428 Shares of Kinetik (NYSE:KNTK) Stock

Kinetik Holdings Inc. (NYSE:KNTK) major shareholder Isq Global Fund Ii Gp Llc sold 45,428 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $55.06, for a total transaction of $2,501,265.68. Following the sale, the insider owned 797,136 shares of the company’s stock, valued at approximately $43,890,308.16. This represents a 5.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own more than 10% 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 Wednesday, August 26th, Isq Global Fund Ii Gp Llc sold 76,260 shares of Kinetik stock. The shares were sold at an average price of $55.28, for a total value of $4,215,652.80.
• On Friday, August 21st, Isq Global Fund Ii Gp Llc sold 6,963 shares of Kinetik stock. The shares were sold at an average price of $55.17, for a total value of $384,148.71.
• On Tuesday, August 18th, Isq Global Fund Ii Gp Llc sold 64,898 shares of Kinetik stock. The stock was sold at an average price of $54.32, for a total value of $3,525,259.36.
• On Thursday, August 20th, Isq Global Fund Ii Gp Llc sold 3,107 shares of Kinetik stock. The stock was sold at an average price of $55.07, for a total value of $171,102.49.
• On Monday, August 17th, Isq Global Fund Ii Gp Llc sold 135,102 shares of Kinetik stock. The shares were sold at an average price of $52.78, for a total value of $7,130,683.56.
• On Friday, August 14th, Isq Global Fund Ii Gp Llc sold 112,160 shares of Kinetik stock. The shares were sold at an average price of $53.48, for a total value of $5,998,316.80.
• On Thursday, August 13th, Isq Global Fund Ii Gp Llc sold 113,075 shares of Kinetik stock. The shares were sold at an average price of $51.60, for a total value of $5,834,670.00.
• On Wednesday, August 12th, Isq Global Fund Ii Gp Llc sold 84,701 shares of Kinetik stock. The stock was sold at an average price of $51.52, for a total value of $4,363,795.52.
• On Tuesday, August 11th, Isq Global Fund Ii Gp Llc sold 147,516 shares of Kinetik stock. The shares were sold at an average price of $52.03, for a total transaction of $7,675,257.48.
• On Monday, August 10th, Isq Global Fund Ii Gp Llc sold 78,474 shares of Kinetik stock. The stock was sold at an average price of $50.87, for a total transaction of $3,991,972.38.

Kinetik Trading Up 0.3%

Shares of NYSE KNTK opened at $54.49 on Friday. The firm has a fifty day simple moving average of $51.17 and a two-hundred day simple moving average of $48.45. Kinetik Holdings Inc. has a 12 month low of $31.33 and a 12 month high of $56.10. The firm has a market capitalization of $8.85 billion, a PE ratio of 19.74, a price-to-earnings-growth ratio of 1.34 and a beta of 0.57.

Kinetik (NYSE:KNTK) last announced its 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 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 analyst estimates of $421.48 million. During the same quarter in the previous year, the firm posted $0.33 EPS. The company’s revenue for the quarter was up 36.3% compared to the same quarter last year. On average, sell-side analysts predict that Kinetik Holdings Inc. will post 1.3 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on KNTK. Morgan Stanley restated an “overweight” rating and issued a $70.00 target price (up from $64.00) on shares of Kinetik in a research note on Tuesday, August 18th. JPMorgan Chase & Co. upped their price target on Kinetik from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Scotiabank reiterated an “outperform” rating and issued a $52.00 price objective (up from $51.00) on shares of Kinetik in a report on Tuesday, May 12th. Tudor Pickering initiated coverage on Kinetik in a research report on Monday, July 20th. They set a “buy” rating and a $57.00 price objective for the company. Finally, Barclays set a $51.00 target price on shares of Kinetik and gave the company an “equal weight” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.27.

Institutional Trading of Kinetik

Several hedge funds and other institutional investors have recently made changes to their positions in KNTK. Miller Howard Investments Inc. NY grew its stake in shares of Kinetik by 69.4% in the first quarter. Miller Howard Investments Inc. NY now owns 146,317 shares of the company’s stock worth $7,083,000 after acquiring an additional 59,942 shares during the last quarter. Infrastructure Capital Advisors LLC purchased a new position in shares of Kinetik in the 4th quarter worth about $9,323,000. Vanguard Group Inc. boosted its stake in Kinetik by 9.4% in the 4th quarter. Vanguard Group Inc. now owns 5,096,786 shares of the company’s stock worth $183,739,000 after purchasing an additional 439,586 shares in the last quarter. HighTower Advisors LLC grew its position in Kinetik by 33.1% during the 4th quarter. HighTower Advisors LLC now owns 102,906 shares of the company’s stock valued at $3,710,000 after purchasing an additional 25,574 shares during the last quarter. Finally, Diversify Wealth Management LLC purchased a new stake in Kinetik during the 1st quarter valued at about $1,612,000. Hedge funds and other institutional investors own 21.11% of the company’s stock.

Kinetik Company 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.