Isq Global Fund Ii Gp Llc Sells 135,084 Shares of Kinetik (NYSE:KNTK) Stock

Kinetik Holdings Inc. (NYSE:KNTK) major shareholder Isq Global Fund Ii Gp Llc sold 135,084 shares of the firm’s stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $54.25, for a total transaction of $7,328,307.00. Following the completion of the sale, the insider owned 469,784 shares in the company, valued at $25,485,782. This represents a 22.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock 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 Monday, September 21st, Isq Global Fund Ii Gp Llc sold 21,511 shares of Kinetik stock. The shares were sold at an average price of $53.59, for a total value of $1,152,774.49.
• On Thursday, September 17th, Isq Global Fund Ii Gp Llc sold 108,977 shares of Kinetik stock. The stock was sold at an average price of $53.84, for a total value of $5,867,321.68.
• On Wednesday, September 16th, Isq Global Fund Ii Gp Llc sold 8,772 shares of Kinetik stock. The stock was sold at an average price of $55.06, for a total value 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 transaction of $56,528.75.
• 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 transaction of $323,477.60.
• On Wednesday, September 9th, Isq Global Fund Ii Gp Llc sold 4,585 shares of Kinetik stock. The stock was sold at an average price of $55.19, for a total transaction of $253,046.15.
• On Tuesday, September 8th, Isq Global Fund Ii Gp Llc sold 58,383 shares of Kinetik stock. The stock was 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 value of $4,215,652.80.

Kinetik Price Performance

Shares of NYSE:KNTK traded down $0.30 during trading on Monday, hitting $53.20. 1,168,520 shares of the company’s stock were exchanged, compared to its average volume of 1,173,101. The business’s 50-day simple moving average is $52.44 and its 200 day simple moving average is $49.22. The company has a market cap of $8.64 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 1.32 and a beta of 0.57. Kinetik Holdings Inc. has a 52-week low of $31.33 and a 52-week high of $56.92.

Kinetik (NYSE:KNTK) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.45. The business had revenue of $581.44 million during 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 for the quarter was up 36.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.33 EPS. On average, sell-side analysts anticipate that Kinetik Holdings Inc. will post 1.3 EPS for the current fiscal year.

Institutional Trading of Kinetik

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KNTK. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in shares of Kinetik by 1.7% in the 1st quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,874,000 shares of the company’s stock worth $90,720,000 after buying an additional 30,600 shares during the period. Cohen & Steers Inc. raised its holdings in shares of 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 in the last quarter. Dimensional Fund Advisors LP grew its holdings in Kinetik by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 687,553 shares of the company’s stock worth $33,285,000 after acquiring an additional 8,513 shares in the last quarter. SIR Capital Management L.P. grew its holdings in 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 acquiring an additional 444,368 shares in the last quarter. Finally, NEOS Investment Management LLC increased its position in Kinetik by 30.9% during the 2nd quarter. NEOS Investment Management LLC now owns 392,128 shares of the company’s stock valued at $18,955,000 after purchasing an additional 92,637 shares during the period. 21.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on KNTK shares. Royal Bank Of Canada reissued an “outperform” rating and issued a $57.00 target price (up from $56.00) on shares of Kinetik in a report on Tuesday, August 11th. Citigroup reiterated 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 raised shares of Kinetik from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, May 29th. Zacks Research downgraded shares of Kinetik from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Finally, Tudor Pickering assumed coverage on shares of Kinetik in a research report on Monday, July 20th. They set a “buy” rating and a $57.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.00.

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.