Brave Warrior Advisors LLC Purchases Shares of 1,608,928 Kinetik Holdings Inc. $KNTK

Brave Warrior Advisors LLC purchased a new position in Kinetik Holdings Inc. (NYSE:KNTK) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,608,928 shares of the company’s stock, valued at approximately $68,766,000. Kinetik makes up approximately 1.6% of Brave Warrior Advisors LLC’s investment portfolio, making the stock its 16th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Crawford Investment Counsel Inc. grew its position in shares of Kinetik by 10.2% during the third quarter. Crawford Investment Counsel Inc. now owns 309,175 shares of the company’s stock valued at $13,214,000 after purchasing an additional 28,648 shares in the last quarter. Boothbay Fund Management LLC purchased a new stake in shares of Kinetik in the third quarter worth about $253,000. Aquatic Capital Management LLC boosted its stake in Kinetik by 0.8% during the third quarter. Aquatic Capital Management LLC now owns 61,058 shares of the company’s stock valued at $2,610,000 after buying an additional 479 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Kinetik by 2.9% during the third quarter. Alliancebernstein L.P. now owns 53,486 shares of the company’s stock valued at $2,286,000 after buying an additional 1,507 shares during the last quarter. Finally, Ameriprise Financial Inc. purchased a new position in Kinetik during the 3rd quarter valued at approximately $3,340,000. Institutional investors own 21.11% of the company’s stock.

Insider Buying and Selling at Kinetik

In other news, insider Matthew Wall sold 3,222 shares of Kinetik stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $46.92, for a total value of $151,176.24. Following the transaction, the insider directly owned 585,556 shares in the company, valued at approximately $27,474,287.52. This trade represents a 0.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Trevor Howard sold 1,619 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $46.92, for a total value of $75,963.48. Following the completion of the transaction, the insider directly owned 249,795 shares of the company’s stock, valued at approximately $11,720,381.40. The trade was a 0.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 4,015,831 shares of company stock worth $180,054,928 over the last quarter. 3.83% of the stock is currently owned by company insiders.

Kinetik Price Performance

Shares of KNTK opened at $44.79 on Friday. The firm has a market capitalization of $7.24 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 1.24 and a beta of 0.70. The company has a 50-day moving average of $41.55 and a 200 day moving average of $39.23. Kinetik Holdings Inc. has a 1-year low of $31.33 and a 1-year high of $54.94.

Kinetik (NYSE:KNTK) last announced its quarterly earnings data on Thursday, February 26th. The company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $2.01. Kinetik had a negative return on equity of 32.70% and a net margin of 29.23%.The company had revenue of $430.42 million for the quarter. During the same period last year, the company earned $0.01 EPS. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on KNTK. The Goldman Sachs Group lowered their target price on Kinetik from $46.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, November 17th. Barclays upped their price target on shares of Kinetik from $40.00 to $43.00 and gave the company an “equal weight” rating in a research note on Thursday, March 5th. Jefferies Financial Group lowered shares of Kinetik from a “buy” rating to a “hold” rating and set a $43.00 price objective for the company. in a research report on Friday, February 6th. Royal Bank Of Canada lifted their price objective on shares of Kinetik from $46.00 to $49.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 10th. Finally, Raymond James Financial set a $46.00 target price on shares of Kinetik in a report on Monday, January 5th. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.09.

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.