Kinetik (NYSE:KNTK) Major Shareholder Isq Global Fund Ii Gp Llc Sells 20,731 Shares of Company Stock

Kinetik Holdings Inc. (NYSE:KNTK) major shareholder Isq Global Fund Ii Gp Llc sold 20,731 shares of the firm’s stock in a transaction on Friday, October 30th. The stock was sold at an average price of $56.69, for a total transaction of $1,175,240.39. Following the transaction, the insider directly owned 979,270 shares of the company’s stock, valued at approximately $55,514,816.30. This trade represents a 2.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 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 Tuesday, November 3rd, Isq Global Fund Ii Gp Llc sold 14,889 shares of Kinetik stock. The shares were sold at an average price of $55.07, for a total transaction of $819,937.23.
• On Monday, November 2nd, Isq Global Fund Ii Gp Llc sold 3,267 shares of Kinetik stock. The shares were sold at an average price of $55.13, for a total transaction of $180,109.71.
• On Tuesday, October 13th, Isq Global Fund Ii Gp Llc sold 2,000,000 shares of Kinetik stock. The shares were sold at an average price of $54.77, for a total transaction of $109,540,000.00.
• On Monday, October 12th, Isq Global Fund Ii Gp Llc sold 38,377 shares of Kinetik stock. The stock was 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 shares were 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 shares were 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 value of $807,660.64.
• On Wednesday, September 23rd, Isq Global Fund Ii Gp Llc sold 24,194 shares of Kinetik stock. The stock was sold at an average price of $53.55, for a total value of $1,295,588.70.

Kinetik Price Performance

KNTK stock traded up $0.77 during trading on Tuesday, hitting $54.31. 1,441,290 shares of the company traded hands, compared to its average volume of 1,178,988. Kinetik Holdings Inc. has a 1 year low of $31.33 and a 1 year high of $58.90. The company has a market cap of $8.82 billion, a PE ratio of 19.68, a P/E/G ratio of 1.26 and a beta of 0.61. The stock’s 50-day simple moving average is $54.13 and its 200 day simple moving average is $48.71.

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. The business had revenue of $581.44 million for the quarter, compared to analyst estimates of $421.48 million. Kinetik had a negative return on equity of 38.96% and a net margin of 26.19%. The business’s quarterly revenue was up 36.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.33 EPS. Research analysts expect that Kinetik Holdings Inc. will post 1.44 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in KNTK. Allworth Financial LP grew its stake in Kinetik by 72.4% in the 2nd quarter. Allworth Financial LP now owns 569 shares of the company’s stock valued at $28,000 after acquiring an additional 239 shares during the period. Pinnacle Wealth Planning Services Inc. raised its position in Kinetik by 5,693.8% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 927 shares of the company’s stock worth $47,000 after acquiring an additional 911 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Kinetik during the second quarter worth $71,000. Signaturefd LLC lifted its holdings in Kinetik by 21.3% during the third quarter. Signaturefd LLC now owns 1,714 shares of the company’s stock valued at $86,000 after purchasing an additional 301 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in Kinetik by 13,233.3% during the third quarter. Covestor Ltd now owns 2,000 shares of the company’s stock valued at $100,000 after purchasing an additional 1,985 shares in the last quarter. Hedge funds and other institutional investors own 21.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Citigroup reissued a “buy” rating and set a $55.00 price target (up from $52.00) on shares of Kinetik in a report on Tuesday, August 11th. Royal Bank Of Canada upped their price objective on shares of Kinetik from $57.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 14th. Clear Str downgraded shares of Kinetik from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. Scotiabank reissued an “outperform” rating and set a $59.00 target price on shares of Kinetik in a research note on Thursday, October 15th. Finally, Morgan Stanley dropped their target price on Kinetik from $70.00 to $67.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.47.

Kinetik Company Profile

Kinetik Holdings Inc is a midstream energy company that provides infrastructure and services for the gathering, processing, transportation and treatment of natural gas, crude oil and natural gas liquids. Its operations are focused primarily on the Permian Basin, where it connects hydrocarbon production to processing facilities, pipelines and downstream markets.

The company’s assets include natural gas gathering and processing systems, crude oil gathering infrastructure, natural gas liquids services and long-haul pipeline interests.