Isq Global Fund Ii Gp Llc Sells 21,511 Shares of Kinetik (NYSE:KNTK) Stock

Kinetik Holdings Inc. (NYSE:KNTK - Get Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 21,511 shares of the company's stock in a transaction on Monday, September 21st. The stock was sold at an average price of $53.59, for a total transaction of $1,152,774.49. Following the sale, the insider directly owned 448,273 shares of the company's stock, valued at $24,022,950.07. The trade was a 4.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company's shares 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, September 18th, Isq Global Fund Ii Gp Llc sold 135,084 shares of Kinetik stock. The stock was sold at an average price of $54.25, for a total transaction of $7,328,307.00.
• On Thursday, September 17th, Isq Global Fund Ii Gp Llc sold 108,977 shares of Kinetik stock. The stock was sold at an average price of $53.84, for a total transaction of $5,867,321.68.
• On Wednesday, September 16th, Isq Global Fund Ii Gp Llc sold 8,772 shares of Kinetik stock. The shares were sold at an average price of $55.06, for a total transaction of $482,986.32.
• On Tuesday, September 15th, Isq Global Fund Ii Gp Llc sold 4,686 shares of Kinetik stock. The shares were sold at an average price of $55.11, for a total transaction of $258,245.46.
• On Monday, September 14th, Isq Global Fund Ii Gp Llc sold 1,025 shares of Kinetik stock. The stock was sold at an average price of $55.15, for a total transaction of $56,528.75.
• On Thursday, September 10th, Isq Global Fund Ii Gp Llc sold 5,840 shares of Kinetik stock. The stock was sold at an average price of $55.39, for a total value of $323,477.60.
• On Wednesday, September 9th, Isq Global Fund Ii Gp Llc sold 4,585 shares of Kinetik stock. The shares were sold at an average price of $55.19, for a total value of $253,046.15.
• 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.

Kinetik Stock Performance

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NYSE KNTK opened at $53.20 on Tuesday. The stock's fifty day moving average is $52.44 and its two-hundred day moving average is $49.22. The firm has a market capitalization of $8.64 billion, a P/E ratio of 19.28, a price-to-earnings-growth ratio of 1.32 and a beta of 0.57. Kinetik Holdings Inc. has a fifty-two week low of $31.33 and a fifty-two week high of $56.92.

Kinetik (NYSE:KNTK - Get Free Report) last issued its 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. Kinetik had a negative return on equity of 38.96% and a net margin of 26.19%.The business had revenue of $581.44 million during the quarter, compared to the consensus estimate of $421.48 million. During the same period last year, the company earned $0.33 EPS. The company's revenue for the quarter was up 36.3% on a year-over-year basis. As a group, sell-side analysts forecast that Kinetik Holdings Inc. will post 1.3 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on KNTK. Barclays set a $51.00 target price on shares of Kinetik and gave the stock an "equal weight" rating in a research note on Thursday, August 6th. Royal Bank Of Canada restated an "outperform" rating and set a $57.00 price target (up from $56.00) on shares of Kinetik in a report on Tuesday, August 11th. Wall Street Zen raised shares of Kinetik from a "strong sell" rating to a "hold" rating in a research report 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, Tudor Pickering started coverage on Kinetik in a report on Monday, July 20th. They issued a "buy" rating and a $57.00 price objective on the stock. One equities 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 stock. According to MarketBeat.com, Kinetik presently has a consensus rating of "Moderate Buy" and an average price target of $54.00.

Read Our Latest Research Report on KNTK

Institutional Trading of Kinetik

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Miller Howard Investments Inc. NY boosted its stake in Kinetik by 69.4% during the first quarter. Miller Howard Investments Inc. NY now owns 146,317 shares of the company's stock worth $7,083,000 after buying an additional 59,942 shares during the period. Infrastructure Capital Advisors LLC purchased a new stake in shares of Kinetik in the 4th quarter valued at approximately $9,323,000. HighTower Advisors LLC raised its stake in shares of Kinetik by 33.1% in the 4th quarter. HighTower Advisors LLC now owns 102,906 shares of the company's stock valued at $3,710,000 after acquiring an additional 25,574 shares during the period. Diversify Wealth Management LLC acquired a new position in shares of Kinetik in the 1st quarter worth approximately $1,612,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Kinetik in the 2nd quarter worth approximately $17,364,000. 21.11% of the stock is currently owned by hedge funds and other institutional investors.

Kinetik Company Profile

(Get Free Report)

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.

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