Kinetik (NYSE:KNTK) Major Shareholder Isq Global Fund Ii Gp Llc Sells 3,267 Shares of Stock

Kinetik Holdings Inc. (NYSE:KNTK - Get Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 3,267 shares of the company's stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $55.13, for a total transaction of $180,109.71. Following the completion of the sale, the insider owned 976,003 shares in the company, valued at approximately $53,807,045.39. This trade represents a 0.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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, November 3rd, Isq Global Fund Ii Gp Llc sold 14,889 shares of Kinetik stock. The stock was sold at an average price of $55.07, for a total value of $819,937.23.
• On Friday, October 30th, Isq Global Fund Ii Gp Llc sold 20,731 shares of Kinetik stock. The shares were sold at an average price of $56.69, for a total value of $1,175,240.39.
• On Tuesday, October 13th, Isq Global Fund Ii Gp Llc sold 2,000,000 shares of Kinetik stock. The shares were sold at an average price of $54.77, for a total value of $109,540,000.00.
• On Monday, October 12th, Isq Global Fund Ii Gp Llc sold 38,377 shares of Kinetik stock. The shares were sold at an average price of $54.19, for a total value of $2,079,649.63.
• On Friday, October 9th, Isq Global Fund Ii Gp Llc sold 58,439 shares of Kinetik stock. The shares were sold at an average price of $54.21, for a total value of $3,167,978.19.
• On Thursday, October 8th, Isq Global Fund Ii Gp Llc sold 119,203 shares of Kinetik stock. The stock was sold at an average price of $54.29, for a total value of $6,471,530.87.
• 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 value of $3,144,778.56.
• On Tuesday, October 6th, Isq Global Fund Ii Gp Llc sold 94,570 shares of Kinetik stock. The stock was sold at an average price of $54.00, for a total value of $5,106,780.00.
• On Monday, October 5th, Isq Global Fund Ii Gp Llc sold 15,088 shares of Kinetik stock. The shares were sold at an average price of $53.53, for a total value of $807,660.64.
• 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 value of $1,295,588.70.

Kinetik Trading Up 1.4%

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KNTK stock opened at $54.31 on Wednesday. The firm has a market cap of $8.82 billion, a P/E ratio of 19.68, a P/E/G ratio of 1.19 and a beta of 0.67. Kinetik Holdings Inc. has a 12-month low of $31.33 and a 12-month high of $58.90. The stock's 50 day simple moving average is $54.13 and its 200 day simple moving average is $48.79.

Kinetik (NYSE:KNTK - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.45. Kinetik had a net margin of 26.19% and a negative return on equity of 38.96%. The firm had revenue of $581.44 million during the quarter, compared to the consensus estimate of $421.48 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. The firm's revenue was up 36.3% on a year-over-year basis. On average, research analysts forecast that Kinetik Holdings Inc. will post 1.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake in Kinetik by 1.7% in the first quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,874,000 shares of the company's stock valued at $90,720,000 after buying an additional 30,600 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Kinetik by 1.3% during the first quarter. Dimensional Fund Advisors LP now owns 687,553 shares of the company's stock valued at $33,285,000 after acquiring an additional 8,513 shares during the period. Pictet Asset Management Holding SA grew its position in shares of Kinetik by 6.8% during the third quarter. Pictet Asset Management Holding SA now owns 481,466 shares of the company's stock worth $24,170,000 after acquiring an additional 30,550 shares during the last quarter. NEOS Investment Management LLC grew its position in shares of Kinetik by 30.9% during the second quarter. NEOS Investment Management LLC now owns 392,128 shares of the company's stock worth $18,955,000 after acquiring an additional 92,637 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Kinetik during the second quarter worth about $17,364,000. 21.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

KNTK has been the topic of a number of recent research reports. Raymond James Financial restated an "outperform" rating and issued a $57.00 price target on shares of Kinetik in a research report on Tuesday, October 20th. Weiss Ratings raised shares of Kinetik from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, August 11th. Clear Str lowered shares of Kinetik from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 17th. Jefferies Financial Group reissued a "hold" rating and issued a $54.00 target price (down from $56.00) on shares of Kinetik in a report on Monday, October 19th. Finally, Tudor Pickering began coverage on shares of Kinetik in a report on Monday, July 20th. They issued a "buy" rating and a $57.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $55.47.

Get Our Latest Stock Report on Kinetik

About Kinetik

(Get Free Report)

Kinetik Holdings Inc is a midstream energy company that provides infrastructure and services for the gathering, processing, transportation and treatment of natural gas, crude oil and natural gas liquids. Its operations are focused primarily on the Permian Basin, where it connects hydrocarbon production to processing facilities, pipelines and downstream markets.

The company's assets include natural gas gathering and processing systems, crude oil gathering infrastructure, natural gas liquids services and long-haul pipeline interests.

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