Kinetik (NYSE:KNTK) Stock: Insider Isq Global Fund Ii Gp Llc Sells 3,267 Shares

Kinetik Holdings Inc. (NYSE:KNTK) major shareholder Isq Global Fund Ii Gp Llc sold 3,267 shares of the stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $55.13, for a total transaction of $180,109.71. Following the sale, the insider owned 976,003 shares in the company, valued at approximately $53,807,045.39. This trade represents a 0.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major 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 Tuesday, November 3rd, Isq Global Fund Ii Gp Llc sold 14,889 shares of Kinetik stock. The stock was sold at an average price of $55.07, for a total transaction of $819,937.23.
• On Friday, October 30th, Isq Global Fund Ii Gp Llc sold 20,731 shares of Kinetik stock. The shares were sold at an average price of $56.69, for a total value of $1,175,240.39.
• 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 value of $109,540,000.00.
• On Monday, October 12th, Isq Global Fund Ii Gp Llc sold 38,377 shares of Kinetik stock. The shares were 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 stock was 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 stock was 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 shares were 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 Stock Up 1.4%

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

Kinetik (NYSE:KNTK) last announced its earnings results on Wednesday, August 5th. The company reported $0.64 earnings per share for the quarter, beating 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 firm had revenue of $581.44 million for the quarter, compared to the consensus estimate of $421.48 million. During the same quarter in the previous year, the business earned $0.33 EPS. The firm’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 1.44 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in Kinetik by 1.7% in the 1st quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,874,000 shares of the company’s stock valued at $90,720,000 after acquiring an additional 30,600 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Kinetik by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 687,553 shares of the company’s stock valued at $33,285,000 after purchasing an additional 8,513 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in shares of Kinetik by 6.8% in the 3rd quarter. Pictet Asset Management Holding SA now owns 481,466 shares of the company’s stock worth $24,170,000 after purchasing an additional 30,550 shares during the last quarter. NEOS Investment Management LLC grew its stake in shares of Kinetik by 30.9% in the 2nd quarter. NEOS Investment Management LLC now owns 392,128 shares of the company’s stock worth $18,955,000 after purchasing an additional 92,637 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Kinetik in the 2nd quarter worth approximately $17,364,000. 21.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on KNTK. Citigroup reaffirmed a “buy” rating and issued a $55.00 price objective (up from $52.00) on shares of Kinetik in a report on Tuesday, August 11th. Truist Financial boosted their price target on shares of Kinetik from $53.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Zacks Research lowered shares of Kinetik from a “strong-buy” rating to a “hold” rating in a research note on Friday. Scotiabank reaffirmed an “outperform” rating and issued a $59.00 price target on shares of Kinetik in a research note on Thursday, October 15th. Finally, Morgan Stanley decreased their price objective on shares of Kinetik from $70.00 to $67.00 and set an “overweight” rating for the company in a report on Wednesday, October 21st. One 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 company. According to data from MarketBeat.com, Kinetik 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.