Kinetik (NYSE:KNTK) Major Shareholder Sells $5,998,316.80 in Stock

Kinetik Holdings Inc. (NYSE:KNTK) major shareholder Isq Global Fund Ii Gp Llc sold 112,160 shares of Kinetik stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $53.48, for a total value of $5,998,316.80. Following the completion of the transaction, the insider owned 1,128,894 shares in the company, valued at $60,373,251.12. This trade represents a 9.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 Monday, August 17th, Isq Global Fund Ii Gp Llc sold 135,102 shares of Kinetik stock. The stock was sold at an average price of $52.78, for a total transaction of $7,130,683.56.
• 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 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 stock was 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 transaction of $3,991,972.38.
• On Friday, August 7th, Isq Global Fund Ii Gp Llc sold 26,550 shares of Kinetik stock. The stock was sold at an average price of $50.24, for a total transaction of $1,333,872.00.
• On Thursday, August 6th, Isq Global Fund Ii Gp Llc sold 235,349 shares of Kinetik stock. The stock was sold at an average price of $50.52, for a total transaction of $11,889,831.48.
• On Monday, August 3rd, Isq Global Fund Ii Gp Llc sold 2,175 shares of Kinetik stock. The stock was sold at an average price of $50.04, for a total transaction of $108,837.00.

Kinetik Trading Up 0.4%

NYSE:KNTK opened at $54.75 on Thursday. The company has a market capitalization of $8.89 billion, a P/E ratio of 19.84, a PEG ratio of 1.35 and a beta of 0.56. Kinetik Holdings Inc. has a 12 month low of $31.33 and a 12 month high of $55.34. The firm has a fifty day simple moving average of $49.39 and a 200-day simple moving average of $47.38.

Kinetik (NYSE:KNTK) last released its earnings results 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 firm 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 firm’s revenue was up 36.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 EPS. Equities analysts forecast that Kinetik Holdings Inc. will post 1.3 EPS for the current year.

Wall Street Analysts Forecast Growth

KNTK has been the topic of several analyst reports. Clear Str lowered Kinetik from a “strong-buy” rating to a “hold” rating in a report on Monday. Citigroup restated a “buy” rating and set a $55.00 price objective (up from $52.00) on shares of Kinetik in a research report on Tuesday, August 11th. US Capital Advisors upgraded shares of Kinetik from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, May 29th. Zacks Research raised Kinetik from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $55.00 price target on shares of Kinetik in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.27.

Institutional Trading of Kinetik

Several hedge funds have recently added to or reduced their stakes in KNTK. GAMMA Investing LLC grew its holdings in Kinetik by 10.5% during the 2nd quarter. GAMMA Investing LLC now owns 2,882 shares of the company’s stock worth $139,000 after acquiring an additional 273 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Kinetik by 3.5% during the 4th quarter. ProShare Advisors LLC now owns 8,633 shares of the company’s stock worth $311,000 after purchasing an additional 294 shares during the last quarter. Maryland State Retirement & Pension System grew its stake in shares of Kinetik by 5.4% during the fourth quarter. Maryland State Retirement & Pension System now owns 6,612 shares of the company’s stock worth $238,000 after purchasing an additional 337 shares in the last quarter. Federated Hermes Inc. increased its holdings in Kinetik by 0.4% in the second quarter. Federated Hermes Inc. now owns 89,133 shares of the company’s stock valued at $3,926,000 after buying an additional 346 shares during the last quarter. Finally, CWM LLC raised its stake in Kinetik by 89.8% in the fourth quarter. CWM LLC now owns 744 shares of the company’s stock valued at $27,000 after buying an additional 352 shares in the last quarter. Institutional investors and hedge funds own 21.11% of the company’s stock.

About Kinetik

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.