Kinetik Holdings Inc. (NYSE:KNTK - Get Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 76,260 shares of the firm's stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $55.28, for a total value of $4,215,652.80. Following the sale, the insider directly owned 842,564 shares of the company's stock, valued at $46,576,937.92. This represents a 8.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own at least 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 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 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 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 transaction of $5,834,670.00.
- 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 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 transaction of $7,675,257.48.
- 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.
Kinetik Price Performance
Kinetik stock opened at $54.02 on Friday. The stock has a market cap of $8.77 billion, a price-to-earnings ratio of 19.57, a price-to-earnings-growth ratio of 1.34 and a beta of 0.56. Kinetik Holdings Inc. has a 1 year low of $31.33 and a 1 year high of $56.10. The firm has a 50-day moving average of $50.54 and a two-hundred day moving average of $47.99.
Kinetik (NYSE:KNTK - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.45. The business had revenue of $581.44 million for the quarter, compared to the consensus estimate of $421.48 million. Kinetik had a net margin of 26.19% and a negative return on equity of 38.96%. The company's revenue for the quarter was up 36.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 EPS. Research analysts expect that Kinetik Holdings Inc. will post 1.3 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research firms have commented on KNTK. Clear Str downgraded Kinetik from a "strong-buy" rating to a "hold" rating in a report on Monday, August 17th. US Capital Advisors upgraded Kinetik from a "moderate buy" rating to a "strong-buy" rating in a report on Friday, May 29th. Jefferies Financial Group reissued a "hold" rating and set a $51.00 price target on shares of Kinetik in a research report on Friday, May 8th. Wall Street Zen upgraded Kinetik from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, Barclays set a $51.00 price objective on Kinetik and gave the company an "equal weight" rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $53.27.
Get Our Latest Report on KNTK
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. Comerica Bank lifted its stake in shares of Kinetik by 91.5% during the 1st quarter. Comerica Bank now owns 1,532 shares of the company's stock worth $80,000 after purchasing an additional 732 shares during the last quarter. AQR Capital Management LLC grew its stake in Kinetik by 4.2% in the first quarter. AQR Capital Management LLC now owns 12,900 shares of the company's stock valued at $670,000 after purchasing an additional 522 shares during the last quarter. Millennium Management LLC grew its stake in Kinetik by 88.7% in the first quarter. Millennium Management LLC now owns 132,533 shares of the company's stock valued at $6,884,000 after purchasing an additional 62,306 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Kinetik by 27.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 79,532 shares of the company's stock worth $4,131,000 after purchasing an additional 17,034 shares in the last quarter. Finally, Intech Investment Management LLC raised its holdings in Kinetik by 14.3% in the first quarter. Intech Investment Management LLC now owns 22,114 shares of the company's stock worth $1,149,000 after purchasing an additional 2,766 shares in the last quarter. 21.11% of the stock is owned by institutional investors.
About Kinetik
(
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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