Isq Global Fund Ii Gp Llc Sells 45,428 Shares of Kinetik (NYSE:KNTK) Stock

Kinetik Holdings Inc. (NYSE:KNTK - Get Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 45,428 shares of the company's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $55.06, for a total transaction of $2,501,265.68. Following the sale, the insider owned 797,136 shares in the company, valued at $43,890,308.16. This represents a 5.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Large 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 Wednesday, August 26th, Isq Global Fund Ii Gp Llc sold 76,260 shares of Kinetik stock. The shares were sold at an average price of $55.28, for a total transaction of $4,215,652.80.
• On Friday, August 21st, Isq Global Fund Ii Gp Llc sold 6,963 shares of Kinetik stock. The stock was 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 stock was 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 shares were 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 shares were 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.
• 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 Tuesday, August 11th, Isq Global Fund Ii Gp Llc sold 147,516 shares of Kinetik stock. The shares were 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.

Kinetik Stock Up 0.4%

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Shares of KNTK opened at $54.34 on Friday. The company has a market cap of $8.82 billion, a PE ratio of 19.69, a P/E/G ratio of 1.34 and a beta of 0.57. The business has a fifty day moving average of $51.07 and a 200 day moving average of $48.40. Kinetik Holdings Inc. has a 52-week low of $31.33 and a 52-week high of $56.10.

Kinetik (NYSE:KNTK - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.19 by $0.45. Kinetik had a net margin of 26.19% and a negative return on equity of 38.96%. The company had revenue of $581.44 million during the quarter, compared to analyst estimates of $421.48 million. During the same period in the previous year, the firm earned $0.33 earnings per share. Kinetik's quarterly revenue was up 36.3% compared to the same quarter last year. As a group, research analysts anticipate that Kinetik Holdings Inc. will post 1.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

KNTK has been the topic of a number of recent analyst reports. 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 report on Tuesday, August 11th. Raymond James Financial restated an "outperform" rating and set a $55.00 target price on shares of Kinetik in a research report on Friday, August 7th. Wall Street Zen raised Kinetik from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 8th. US Capital Advisors upgraded Kinetik from a "moderate buy" rating to a "strong-buy" rating in a report on Friday, May 29th. Finally, Jefferies Financial Group reissued a "hold" rating and set a $51.00 price target on shares of Kinetik in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, Kinetik has a consensus rating of "Moderate Buy" and an average price target of $53.27.

Get Our Latest Stock Analysis on KNTK

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System boosted its position in Kinetik by 4,839.8% in the 2nd quarter. California State Teachers Retirement System now owns 2,898,031 shares of the company's stock valued at $140,091,000 after buying an additional 2,839,364 shares during the period. Zimmer Partners LP bought a new position in Kinetik in the 4th quarter worth about $98,611,000. Wellington Management Group LLP increased its position in shares of Kinetik by 149.6% during the fourth quarter. Wellington Management Group LLP now owns 1,608,403 shares of the company's stock worth $57,983,000 after acquiring an additional 964,130 shares during the period. Cohen & Steers Inc. increased its position in shares of Kinetik by 82.5% during the fourth quarter. Cohen & Steers Inc. now owns 1,843,506 shares of the company's stock worth $66,458,000 after acquiring an additional 833,224 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Kinetik by 382.8% during the fourth quarter. Principal Financial Group Inc. now owns 1,018,692 shares of the company's stock valued at $36,724,000 after acquiring an additional 807,707 shares in the last quarter. Hedge funds and other institutional investors own 21.11% of the company's stock.

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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