Kinetik (NYSE:KNTK) Major Shareholder Isq Global Fund Ii Gp Llc Sells 15,088 Shares of Company Stock

Kinetik Holdings Inc. (NYSE:KNTK - Get Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 15,088 shares of Kinetik stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $53.53, for a total value of $807,660.64. Following the completion of the sale, the insider owned 369,054 shares of the company's stock, valued at $19,755,460.62. The trade was a 3.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% 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 Wednesday, October 7th, Isq Global Fund Ii Gp Llc sold 58,464 shares of Kinetik stock. The stock was sold at an average price of $53.79, for a total transaction of $3,144,778.56.
• On Tuesday, October 6th, Isq Global Fund Ii Gp Llc sold 94,570 shares of Kinetik stock. The shares were sold at an average price of $54.00, for a total transaction of $5,106,780.00.
• On Wednesday, September 23rd, Isq Global Fund Ii Gp Llc sold 24,194 shares of Kinetik stock. The shares were sold at an average price of $53.55, for a total transaction of $1,295,588.70.
• On Tuesday, September 22nd, Isq Global Fund Ii Gp Llc sold 39,937 shares of Kinetik stock. The shares were sold at an average price of $53.72, for a total transaction of $2,145,415.64.
• On Monday, September 21st, Isq Global Fund Ii Gp Llc sold 21,511 shares of Kinetik stock. The stock was sold at an average price of $53.59, for a total transaction of $1,152,774.49.
• On Friday, September 18th, Isq Global Fund Ii Gp Llc sold 135,084 shares of Kinetik stock. The shares were 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 shares were 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 stock was 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 value of $56,528.75.

Kinetik Stock Down 0.6%

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Kinetik stock opened at $53.60 on Thursday. The firm has a market cap of $8.70 billion, a P/E ratio of 19.42, a P/E/G ratio of 1.33 and a beta of 0.61. The business has a fifty day moving average of $52.88 and a two-hundred day moving average of $49.78. Kinetik Holdings Inc. has a twelve month low of $31.33 and a twelve month high of $56.92.

Kinetik (NYSE:KNTK - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.64 earnings per share (EPS) for the quarter, beating 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 negative return on equity of 38.96% and a net margin of 26.19%.The business's revenue was up 36.3% compared to the same quarter last year. During the same period last year, the business posted $0.33 EPS. Equities analysts expect that Kinetik Holdings Inc. will post 1.3 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in KNTK. Cohen & Steers Inc. lifted its holdings in Kinetik by 82.5% in the fourth quarter. Cohen & Steers Inc. now owns 1,843,506 shares of the company's stock valued at $66,458,000 after acquiring an additional 833,224 shares during the period. SIR Capital Management L.P. grew its stake in shares of Kinetik by 195.1% during the 4th quarter. SIR Capital Management L.P. now owns 672,090 shares of the company's stock worth $24,229,000 after purchasing an additional 444,368 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Kinetik during the 2nd quarter worth approximately $17,364,000. Infrastructure Capital Advisors LLC purchased a new position in shares of Kinetik during the 4th quarter valued at approximately $9,323,000. Finally, Pictet Asset Management Holding SA increased its holdings in shares of Kinetik by 107.1% during the 1st quarter. Pictet Asset Management Holding SA now owns 365,652 shares of the company's stock valued at $17,701,000 after purchasing an additional 189,065 shares in the last quarter. 21.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Wall Street Zen upgraded Kinetik from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 8th. Morgan Stanley reissued an "overweight" rating and set a $70.00 price target (up from $64.00) on shares of Kinetik in a research report on Tuesday, August 18th. Wells Fargo & Company restated an "overweight" rating and issued a $54.00 price target on shares of Kinetik in a report on Monday, August 10th. Barclays set a $51.00 price objective on shares of Kinetik and gave the stock an "equal weight" rating in a research report on Thursday, August 6th. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $56.00 price objective on shares of Kinetik in a research note on Wednesday, September 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $54.00.

Get Our Latest Report on Kinetik

About Kinetik

(Get Free Report)

Kinetik Holdings Inc (NYSE: KNTK) is a midstream energy company that provides infrastructure and logistics services for natural gas, natural gas liquids (NGLs), crude oil and produced water. The company primarily serves producers operating in the Delaware Basin, a major oil and gas-producing region within the Permian Basin of West Texas and southeastern New Mexico.

Kinetik's operations include natural gas gathering, compression, processing and transportation, as well as NGL transportation and pipeline logistics.

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