Kinetik Holdings Inc. (NYSE:KNTK - Get Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 6,963 shares of Kinetik stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $55.17, for a total transaction of $384,148.71. Following the completion of the transaction, the insider directly owned 918,824 shares in the company, valued at approximately $50,691,520.08. The trade was a 0.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
Isq Global Fund Ii Gp Llc also recently made the following trade(s):
- 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 transaction of $3,525,259.36.
- On Thursday, August 20th, Isq Global Fund Ii Gp Llc sold 3,107 shares of Kinetik stock. The stock was 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 shares were sold at an average price of $52.78, for a total transaction 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 transaction of $5,998,316.80.
- On Thursday, August 13th, Isq Global Fund Ii Gp Llc sold 113,075 shares of Kinetik stock. The stock was sold at an average price of $51.60, for a total value of $5,834,670.00.
- On Wednesday, August 12th, Isq Global Fund Ii Gp Llc sold 84,701 shares of Kinetik stock. The shares were sold at an average price of $51.52, for a total transaction of $4,363,795.52.
- On Tuesday, August 11th, Isq Global Fund Ii Gp Llc sold 147,516 shares of Kinetik stock. The stock was sold at an average price of $52.03, for a total value of $7,675,257.48.
- On Monday, August 10th, Isq Global Fund Ii Gp Llc sold 78,474 shares of Kinetik stock. The shares were sold at an average price of $50.87, for a total value of $3,991,972.38.
- On Friday, August 7th, Isq Global Fund Ii Gp Llc sold 26,550 shares of Kinetik stock. The stock was sold at an average price of $50.24, for a total value 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 transaction of $11,889,831.48.
Kinetik Stock Down 0.7%
Shares of KNTK opened at $54.34 on Wednesday. The business has a 50-day simple moving average of $50.04 and a two-hundred day simple moving average of $47.76. Kinetik Holdings Inc. has a 12-month low of $31.33 and a 12-month high of $56.10. The stock has a market cap of $8.82 billion, a PE ratio of 19.69, a PEG ratio of 1.35 and a beta of 0.56.
Kinetik (NYSE:KNTK - Get Free Report) last issued its quarterly 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. The company had revenue of $581.44 million during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.33 earnings per share. On average, equities research analysts expect that Kinetik Holdings Inc. will post 1.3 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in KNTK. CWM LLC raised its position in shares of Kinetik by 89.8% in the 4th quarter. CWM LLC now owns 744 shares of the company's stock worth $27,000 after purchasing an additional 352 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Kinetik during the 4th quarter valued at about $33,000. Los Angeles Capital Management LLC purchased a new stake in Kinetik during the fourth quarter valued at approximately $40,000. Huntington National Bank raised its holdings in Kinetik by 139.1% in the 4th quarter. Huntington National Bank now owns 1,222 shares of the company's stock worth $44,000 after purchasing an additional 711 shares during the period. Finally, SBI Okasan Asset Management Co.Ltd. bought a new position in shares of Kinetik in the fourth quarter worth about $47,000. Hedge funds and other institutional investors own 21.11% of the company's stock.
Analyst Ratings Changes
Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Kinetik from $54.00 to $57.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. Raymond James Financial restated an "outperform" rating and issued a $55.00 price objective on shares of Kinetik in a research note on Friday, August 7th. Jefferies Financial Group restated a "hold" rating and set a $51.00 target price on shares of Kinetik in a research report on Friday, May 8th. Morgan Stanley restated an "overweight" rating and issued a $70.00 price objective (up from $64.00) on shares of Kinetik in a research report on Tuesday, August 18th. Finally, Truist Financial boosted their target price on Kinetik from $53.00 to $59.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $53.27.
Check Out Our Latest Stock Report on Kinetik
Kinetik Company Profile
(
Get Free Report)
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.
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