Kinetik (NYSE:KNTK) Major Shareholder Isq Global Fund Ii Gp Llc Sells 147,516 Shares of Stock

Kinetik Holdings Inc. (NYSE:KNTK) major shareholder Isq Global Fund Ii Gp Llc sold 147,516 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $52.03, for a total transaction of $7,675,257.48. Following the sale, the insider directly owned 1,438,830 shares of the company’s stock, valued at approximately $74,862,324.90. This represents a 9.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, August 12th, Isq Global Fund Ii Gp Llc sold 84,701 shares of Kinetik stock. The stock was sold at an average price of $51.52, for a total value of $4,363,795.52.
• On Monday, August 10th, Isq Global Fund Ii Gp Llc sold 78,474 shares of Kinetik stock. The stock was sold at an average price of $50.87, for a total transaction of $3,991,972.38.
• On Friday, August 7th, Isq Global Fund Ii Gp Llc sold 26,550 shares of Kinetik stock. The shares were sold at an average price of $50.24, for a total transaction of $1,333,872.00.
• On Thursday, August 6th, Isq Global Fund Ii Gp Llc sold 235,349 shares of Kinetik stock. The shares were sold at an average price of $50.52, for a total value of $11,889,831.48.
• On Monday, August 3rd, Isq Global Fund Ii Gp Llc sold 2,175 shares of Kinetik stock. The stock was sold at an average price of $50.04, for a total value of $108,837.00.

Kinetik Trading Up 0.2%

KNTK traded up $0.11 during trading hours on Wednesday, hitting $51.22. The company’s stock had a trading volume of 671,949 shares, compared to its average volume of 1,067,033. The company has a 50-day simple moving average of $48.64 and a 200 day simple moving average of $46.90. The firm has a market capitalization of $8.32 billion, a PE ratio of 17.27, a PEG ratio of 1.69 and a beta of 0.56. Kinetik Holdings Inc. has a fifty-two week low of $31.33 and a fifty-two week high of $52.69.

Kinetik (NYSE:KNTK) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.45. The company had revenue of $581.44 million during 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 firm’s quarterly revenue was up 36.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 EPS. Research analysts expect that Kinetik Holdings Inc. will post 0.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

KNTK has been the topic of a number of research analyst reports. US Capital Advisors upgraded shares of Kinetik from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, May 29th. Royal Bank Of Canada reissued an “outperform” rating and issued a $57.00 price objective (up from $56.00) on shares of Kinetik in a research note on Tuesday. Barclays set a $51.00 target price on Kinetik and gave the company an “equal weight” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. lifted their target price on Kinetik from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $55.00 price target on shares of Kinetik in a research report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.87.

Institutional Investors Weigh In On Kinetik

Hedge funds have recently made changes to their positions in the stock. CWM LLC increased its stake in Kinetik by 89.8% during the fourth quarter. CWM LLC now owns 744 shares of the company’s stock valued at $27,000 after acquiring an additional 352 shares during the period. Signaturefd LLC lifted its position in Kinetik by 101.5% in the fourth quarter. Signaturefd LLC now owns 802 shares of the company’s stock worth $29,000 after purchasing an additional 404 shares during the period. Kestra Advisory Services LLC bought a new stake in Kinetik in the 4th quarter valued at $33,000. Los Angeles Capital Management LLC acquired a new position in shares of Kinetik in the 4th quarter valued at $40,000. Finally, Huntington National Bank boosted its position in shares of Kinetik by 139.1% during the 4th quarter. Huntington National Bank now owns 1,222 shares of the company’s stock valued at $44,000 after acquiring an additional 711 shares in the last quarter. Institutional investors own 21.11% of the company’s stock.

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.