Kinetik (NYSE:KNTK) Major Shareholder Sells $27,006,173.28 in Stock

Kinetik Holdings Inc. (NYSE:KNTK) major shareholder Isq Global Fund Ii Gp Llc sold 534,564 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $50.52, for a total value of $27,006,173.28. Following the transaction, the insider owned 428,894 shares in the company, valued at $21,667,724.88. This represents a 55.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Isq Global Fund Ii Gp Llc also recently made the following trade(s):

• On Wednesday, April 29th, Isq Global Fund Ii Gp Llc sold 183,434 shares of Kinetik stock. The shares were sold at an average price of $49.53, for a total value of $9,085,486.02.
• On Tuesday, April 28th, Isq Global Fund Ii Gp Llc sold 192,041 shares of Kinetik stock. The shares were sold at an average price of $48.56, for a total value of $9,325,510.96.
• On Monday, April 27th, Isq Global Fund Ii Gp Llc sold 868 shares of Kinetik stock. The shares were sold at an average price of $48.01, for a total value of $41,672.68.
• On Wednesday, April 22nd, Isq Global Fund Ii Gp Llc sold 21,429 shares of Kinetik stock. The shares were sold at an average price of $48.02, for a total value of $1,029,020.58.
• On Thursday, April 23rd, Isq Global Fund Ii Gp Llc sold 138,771 shares of Kinetik stock. The shares were sold at an average price of $48.17, for a total value of $6,684,599.07.
• On Thursday, February 26th, Isq Global Fund Ii Gp Llc sold 4,000,000 shares of Kinetik stock. The shares were sold at an average price of $44.85, for a total value of $179,400,000.00.

Kinetik Stock Performance

Shares of KNTK stock traded up $1.37 during trading hours on Monday, hitting $50.76. The company had a trading volume of 1,824,384 shares, compared to its average volume of 1,293,988. Kinetik Holdings Inc. has a 12 month low of $31.33 and a 12 month high of $51.11. The firm has a market capitalization of $8.23 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 1.56 and a beta of 0.61. The firm’s fifty day moving average is $46.59 and its 200 day moving average is $40.50.

Kinetik (NYSE:KNTK) last released its quarterly earnings data on Thursday, February 26th. The company reported $2.16 earnings per share for the quarter, beating 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 quarter in the prior year, the company posted $0.01 earnings per share. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, sell-side analysts expect that Kinetik Holdings Inc. will post 1.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of KNTK. CWM LLC lifted its holdings in Kinetik by 89.8% during the 4th quarter. CWM LLC now owns 744 shares of the company’s stock worth $27,000 after buying an additional 352 shares in the last quarter. Signaturefd LLC lifted its holdings in Kinetik by 101.5% during the 4th quarter. Signaturefd LLC now owns 802 shares of the company’s stock worth $29,000 after buying an additional 404 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in Kinetik during the 4th quarter worth $33,000. Los Angeles Capital Management LLC acquired a new position in Kinetik during the 4th quarter worth $40,000. Finally, Huntington National Bank lifted its holdings in Kinetik by 139.1% during the 4th quarter. Huntington National Bank now owns 1,222 shares of the company’s stock worth $44,000 after buying an additional 711 shares in the last quarter. Institutional investors own 21.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on KNTK. UBS Group lowered their price objective on Kinetik from $49.00 to $48.00 and set a “neutral” rating on the stock in a research note on Monday, March 16th. Mizuho upped their price objective on Kinetik from $48.00 to $51.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Raymond James Financial set a $46.00 price objective on Kinetik in a research note on Monday, January 5th. Scotiabank increased their price target on Kinetik from $49.00 to $51.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, March 17th. Finally, Barclays increased their price target on Kinetik from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $48.33.

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.