Goldman Sachs Group Inc. Decreases Stock Holdings in Kinetik Holdings Inc. $KNTK

Goldman Sachs Group Inc. lowered its holdings in Kinetik Holdings Inc. (NYSE:KNTK) by 5.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,528,640 shares of the company’s stock after selling 250,123 shares during the period. Goldman Sachs Group Inc. owned approximately 2.80% of Kinetik worth $163,257,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in KNTK. CWM LLC boosted its position in Kinetik by 89.8% during the 4th quarter. CWM LLC now owns 744 shares of the company’s stock worth $27,000 after purchasing an additional 352 shares during the period. Signaturefd LLC raised its position in Kinetik by 101.5% in the fourth quarter. Signaturefd LLC now owns 802 shares of the company’s stock valued at $29,000 after purchasing an additional 404 shares during the period. Huntington National Bank lifted its stake in shares of Kinetik by 139.1% during the fourth quarter. Huntington National Bank now owns 1,222 shares of the company’s stock worth $44,000 after purchasing an additional 711 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Kinetik during the third quarter worth about $54,000. Finally, Advisory Services Network LLC purchased a new stake in shares of Kinetik in the third quarter worth about $55,000. Institutional investors and hedge funds own 21.11% of the company’s stock.

Kinetik Stock Performance

Shares of KNTK stock opened at $45.26 on Monday. Kinetik Holdings Inc. has a 1 year low of $31.33 and a 1 year high of $51.51. The stock has a fifty day moving average of $47.95 and a two-hundred day moving average of $42.51. The firm has a market capitalization of $7.35 billion, a PE ratio of 18.47, a price-to-earnings-growth ratio of 2.33 and a beta of 0.57.

Kinetik (NYSE:KNTK) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.23). Kinetik had a negative return on equity of 36.36% and a net margin of 28.58%.The business had revenue of $409.98 million for the quarter. During the same period in the previous year, the business earned $0.05 EPS. The business’s revenue for the quarter was down 7.5% compared to the same quarter last year. Equities research analysts predict that Kinetik Holdings Inc. will post 0.62 earnings per share for the current fiscal year.

Insider Transactions at Kinetik

In other Kinetik news, major shareholder Isq Global Fund Ii Gp Llc sold 534,564 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $50.52, for a total transaction of $27,006,173.28. Following the completion of the transaction, the insider owned 428,894 shares in the company, valued at approximately $21,667,724.88. The trade was a 55.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 1,071,107 shares of company stock worth $53,172,463. Insiders own 3.56% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on KNTK. Truist Financial assumed coverage on Kinetik in a report on Tuesday, March 24th. They issued a “buy” rating and a $53.00 price target for the company. Zacks Research upgraded Kinetik from a “strong sell” rating to a “hold” rating in a report on Thursday, March 26th. Wells Fargo & Company upgraded Kinetik from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $47.00 to $52.00 in a research note on Wednesday, March 25th. Barclays set a $50.00 price objective on Kinetik and gave the stock an “equal weight” rating in a research note on Thursday, May 14th. Finally, US Capital Advisors upgraded Kinetik from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.17.

Kinetik Company Profile

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.