Kinetik (NYSE:KNTK) Major Shareholder Isq Global Fund Ii Gp Llc Sells 4,585 Shares

Kinetik Holdings Inc. (NYSE:KNTK) major shareholder Isq Global Fund Ii Gp Llc sold 4,585 shares of the company’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $55.19, for a total value of $253,046.15. Following the completion of the sale, the insider owned 734,168 shares of the company’s stock, valued at $40,518,731.92. This represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own at least 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 Thursday, September 10th, Isq Global Fund Ii Gp Llc sold 5,840 shares of Kinetik stock. The shares were sold at an average price of $55.39, for a total value of $323,477.60.
• 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 shares were 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 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 transaction 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 transaction of $3,525,259.36.
• On Thursday, August 20th, Isq Global Fund Ii Gp Llc sold 3,107 shares of Kinetik stock. The shares were sold at an average price of $55.07, for a total transaction 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 transaction 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 transaction of $5,998,316.80.
• On Thursday, August 13th, Isq Global Fund Ii Gp Llc sold 113,075 shares of Kinetik stock. The stock was sold at an average price of $51.60, for a total transaction of $5,834,670.00.

Kinetik Stock Performance

NYSE KNTK opened at $54.28 on Friday. The firm’s 50 day moving average price is $51.68 and its 200-day moving average price is $48.79. Kinetik Holdings Inc. has a 52-week low of $31.33 and a 52-week high of $56.92. The company has a market cap of $8.81 billion, a PE ratio of 19.67, a P/E/G ratio of 1.35 and a beta of 0.57.

Kinetik (NYSE:KNTK) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.45. The company had revenue of $581.44 million for the quarter, compared to analyst estimates of $421.48 million. Kinetik had a net margin of 26.19% and a negative return on equity of 38.96%. Kinetik’s revenue was up 36.3% compared to the same quarter last year. During the same period last year, the company posted $0.33 earnings per share. On average, analysts forecast that Kinetik Holdings Inc. will post 1.3 earnings per share for the current fiscal year.

Key Kinetik News

Here are the key news stories impacting Kinetik this week:

• Positive Sentiment: A potential acquisition is the main bullish catalyst. Multiple reports say Kinetik is evaluating strategic options, including a sale, which could lead to takeover interest or a premium valuation for shareholders. Reuters: US pipeline operator Kinetik exploring potential sale
• Positive Sentiment: The sale speculation has attracted investor attention, with reports indicating Kinetik is weighing alternatives rather than being compelled to sell. The possibility of a strategic transaction may support the stock’s recent strength and keep merger-related speculation elevated. Bloomberg report via Seeking Alpha
• Neutral Sentiment: The reports do not identify a buyer, offer price, timetable, or certainty that a transaction will occur. Investors should therefore treat the takeover outlook as speculative; the stock could give back gains if discussions do not progress. MarketScreener report
• Negative Sentiment: Major shareholder ISQ Global Fund II GP LLC disclosed sales totaling 68,808 KNTK shares from September 8–10 for approximately $3.80 million. The transactions reduced its reported position, including a 7.32% decrease from the September 8 sale, which may create some negative sentiment or raise questions about insider confidence. SEC Form 4 filings

Institutional Trading of Kinetik

Hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC boosted its position in shares of Kinetik by 89.8% in the 4th quarter. CWM LLC now owns 744 shares of the company’s stock worth $27,000 after purchasing an additional 352 shares in the last quarter. Allworth Financial LP grew its stake in Kinetik by 72.4% during the 2nd quarter. Allworth Financial LP now owns 569 shares of the company’s stock worth $28,000 after buying an additional 239 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in Kinetik during the 4th quarter valued at about $33,000. Los Angeles Capital Management LLC acquired a new position in Kinetik during the 4th quarter valued at about $40,000. Finally, Huntington National Bank increased its position in Kinetik by 139.1% during the 4th quarter. Huntington National Bank now owns 1,222 shares of the company’s stock valued at $44,000 after buying an additional 711 shares in the last quarter. Hedge funds and other institutional investors own 21.11% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on KNTK shares. Jefferies Financial Group reiterated a “hold” rating and issued a $56.00 price target on shares of Kinetik in a report on Wednesday. Citigroup restated a “buy” rating and set a $55.00 price objective (up from $52.00) on shares of Kinetik in a research note on Tuesday, August 11th. Scotiabank reiterated an “outperform” rating and issued a $58.00 target price (up from $52.00) on shares of Kinetik in a report on Thursday. Raymond James Financial reissued an “outperform” rating and set a $55.00 price target on shares of Kinetik in a research report on Friday, August 7th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $54.00.

About Kinetik

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.