Kinetik (NYSE:KNTK) Major Shareholder Isq Global Fund Ii Gp Llc Sells 58,383 Shares

Kinetik Holdings Inc. (NYSE:KNTK) major shareholder Isq Global Fund Ii Gp Llc sold 58,383 shares of the business’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $55.14, for a total value of $3,219,238.62. Following the completion of the sale, the insider directly owned 738,753 shares of the company’s stock, valued at $40,734,840.42. The trade was a 7.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 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 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 value 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 value 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 value 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 Trading Down 0.5%

Kinetik stock opened at $54.28 on Friday. The firm has a market capitalization of $8.81 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 1.35 and a beta of 0.57. The firm’s fifty day moving average price is $51.68 and its two-hundred day moving average price is $48.79. Kinetik Holdings Inc. has a 1-year low of $31.33 and a 1-year high of $56.92.

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

Analyst Ratings Changes

Several brokerages have recently commented on KNTK. Royal Bank Of Canada reissued an “outperform” rating and issued a $57.00 price objective (up from $56.00) on shares of Kinetik in a research note on Tuesday, August 11th. US Capital Advisors raised Kinetik from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, May 29th. Barclays set a $51.00 price target on Kinetik and gave the stock an “equal weight” rating in a report on Thursday, August 6th. Morgan Stanley reissued an “overweight” rating and issued a $70.00 price target (up from $64.00) on shares of Kinetik in a research report on Tuesday, August 18th. Finally, 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. 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Hedge Funds Weigh In On Kinetik

A number of hedge funds and other institutional investors have recently modified their holdings of KNTK. Comerica Bank increased its position in shares of Kinetik by 91.5% during the first quarter. Comerica Bank now owns 1,532 shares of the company’s stock valued at $80,000 after acquiring an additional 732 shares during the last quarter. AQR Capital Management LLC grew its stake in Kinetik by 4.2% in the 1st quarter. AQR Capital Management LLC now owns 12,900 shares of the company’s stock valued at $670,000 after purchasing an additional 522 shares during the period. Millennium Management LLC increased its position in shares of Kinetik by 88.7% during the 1st quarter. Millennium Management LLC now owns 132,533 shares of the company’s stock valued at $6,884,000 after purchasing an additional 62,306 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Kinetik by 27.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 79,532 shares of the company’s stock valued at $4,131,000 after purchasing an additional 17,034 shares during the last quarter. Finally, Intech Investment Management LLC raised its stake in shares of Kinetik by 14.3% during the 1st quarter. Intech Investment Management LLC now owns 22,114 shares of the company’s stock worth $1,149,000 after purchasing an additional 2,766 shares during the period. Hedge funds and other institutional investors own 21.11% of the company’s stock.

Key Stories Impacting Kinetik

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

Kinetik Company Profile

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.