Isq Global Fund Ii Gp Llc Sells 4,585 Shares of Kinetik (NYSE:KNTK) Stock

Kinetik Holdings Inc. (NYSE:KNTK) major shareholder Isq Global Fund Ii Gp Llc sold 4,585 shares of Kinetik stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $55.19, for a total transaction of $253,046.15. Following the sale, the insider directly owned 734,168 shares of the company’s stock, valued at $40,518,731.92. This represents a 0.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 Thursday, September 10th, Isq Global Fund Ii Gp Llc sold 5,840 shares of Kinetik stock. The shares were sold at an average price of $55.39, for a total transaction of $323,477.60.
• On Tuesday, September 8th, Isq Global Fund Ii Gp Llc sold 58,383 shares of Kinetik stock. The shares were sold at an average price of $55.14, for a total value of $3,219,238.62.
• On Tuesday, September 1st, Isq Global Fund Ii Gp Llc sold 45,428 shares of Kinetik stock. The stock was sold at an average price of $55.06, for a total value of $2,501,265.68.
• On Wednesday, August 26th, Isq Global Fund Ii Gp Llc sold 76,260 shares of Kinetik stock. The stock was 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 shares were 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 shares were 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 stock was 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 stock was 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.

Kinetik Price Performance

Shares of KNTK stock opened at $54.84 on Friday. The stock has a market cap of $8.90 billion, a PE ratio of 19.87, a price-to-earnings-growth ratio of 1.34 and a beta of 0.57. The stock has a 50-day moving average of $51.83 and a 200-day moving average of $48.84. Kinetik Holdings Inc. has a one year low of $31.33 and a one year high of $56.92.

Kinetik (NYSE:KNTK) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.64 earnings per share 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 net margin of 26.19% and a negative return on equity of 38.96%. Kinetik’s quarterly revenue was up 36.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.33 EPS. As a group, research analysts anticipate that Kinetik Holdings Inc. will post 1.3 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on KNTK shares. Morgan Stanley reissued an “overweight” rating and set a $70.00 price target (up from $64.00) on shares of Kinetik in a research report on Tuesday, August 18th. Zacks Research downgraded Kinetik from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Raymond James Financial reiterated an “outperform” rating and set a $55.00 target price on shares of Kinetik in a report on Friday, August 7th. Royal Bank Of Canada reissued an “outperform” rating and issued a $57.00 target price (up from $56.00) on shares of Kinetik in a research note on Tuesday, August 11th. Finally, Weiss Ratings upgraded Kinetik from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. One research 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. Based on data from MarketBeat.com, Kinetik has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Institutional Investors Weigh In On Kinetik

Several large investors have recently made changes to their positions in the stock. Allworth Financial LP raised its holdings in shares of Kinetik by 72.4% during the second quarter. Allworth Financial LP now owns 569 shares of the company’s stock worth $28,000 after acquiring an additional 239 shares during the period. GAMMA Investing LLC lifted its position in Kinetik by 10.5% in the 2nd quarter. GAMMA Investing LLC now owns 2,882 shares of the company’s stock valued at $139,000 after acquiring an additional 273 shares in the last quarter. ProShare Advisors LLC boosted its stake in Kinetik by 3.5% in the 4th quarter. ProShare Advisors LLC now owns 8,633 shares of the company’s stock worth $311,000 after purchasing an additional 294 shares during the period. Maryland State Retirement & Pension System boosted its stake in Kinetik by 5.4% in the 4th quarter. Maryland State Retirement & Pension System now owns 6,612 shares of the company’s stock worth $238,000 after purchasing an additional 337 shares during the period. Finally, Federated Hermes Inc. increased its holdings in Kinetik by 0.4% during the 2nd quarter. Federated Hermes Inc. now owns 89,133 shares of the company’s stock worth $3,926,000 after purchasing an additional 346 shares in the last quarter. Institutional investors own 21.11% of the company’s stock.

About Kinetik

Kinetik Holdings Inc (NYSE: KNTK) is a midstream energy company that provides gathering, processing, transportation and logistics services for oil and natural gas producers. The company’s operations are focused primarily on the Delaware Basin, a major producing region within the Permian Basin of West Texas and southeastern New Mexico.

Kinetik’s services include natural gas gathering and processing, natural gas liquids transportation and handling, crude oil logistics, and long-haul natural gas transportation.