Kinetik (NYSE:KNTK) Major Shareholder Isq Global Fund Ii Gp Llc Sells 64,898 Shares

Kinetik Holdings Inc. (NYSE:KNTK) major shareholder Isq Global Fund Ii Gp Llc sold 64,898 shares of Kinetik stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $54.32, for a total transaction of $3,525,259.36. Following the sale, the insider owned 928,894 shares of the company’s stock, valued at approximately $50,457,522.08. The trade was a 6.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own 10% or more 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, August 20th, Isq Global Fund Ii Gp Llc sold 3,107 shares of Kinetik stock. The stock was sold at an average price of $55.07, for a total value 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 value of $7,130,683.56.
• On Friday, August 14th, Isq Global Fund Ii Gp Llc sold 112,160 shares of Kinetik stock. The stock was sold at an average price of $53.48, for a total value 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 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 shares were 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 value 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 value 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 shares were sold at an average price of $50.04, for a total transaction of $108,837.00.

Kinetik Trading Down 0.4%

Shares of NYSE KNTK opened at $54.47 on Friday. The company’s 50-day moving average price is $49.54 and its 200 day moving average price is $47.47. Kinetik Holdings Inc. has a 52 week low of $31.33 and a 52 week high of $56.10. The stock has a market cap of $8.84 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 1.35 and a beta of 0.56.

Kinetik (NYSE:KNTK) last announced its earnings results on Wednesday, August 5th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $421.48 million. During the same quarter in the previous year, the business posted $0.33 earnings per share. The firm’s quarterly revenue was up 36.3% compared to the same quarter last year. As a group, research analysts expect that Kinetik Holdings Inc. will post 1.3 earnings per share for the current year.

Institutional Trading of Kinetik

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in Kinetik by 10.5% during the 2nd quarter. GAMMA Investing LLC now owns 2,882 shares of the company’s stock valued at $139,000 after purchasing an additional 273 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Kinetik by 3.5% in the 4th quarter. ProShare Advisors LLC now owns 8,633 shares of the company’s stock valued at $311,000 after purchasing an additional 294 shares in the last quarter. Maryland State Retirement & Pension System boosted its stake in shares of Kinetik by 5.4% during the 4th quarter. Maryland State Retirement & Pension System now owns 6,612 shares of the company’s stock valued at $238,000 after buying an additional 337 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Kinetik by 0.4% during the 2nd 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 grew its position in shares of Kinetik by 89.8% during the fourth quarter. CWM LLC now owns 744 shares of the company’s stock worth $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.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on KNTK shares. Wall Street Zen raised Kinetik from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 8th. Wells Fargo & Company reissued an “overweight” rating and set a $54.00 price target on shares of Kinetik in a research report on Monday, August 10th. Morgan Stanley reissued an “overweight” rating and issued a $70.00 price target (up from $64.00) on shares of Kinetik in a report on Tuesday. Zacks Research upgraded Kinetik from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Finally, Tudor Pickering assumed coverage on Kinetik in a research note on Monday, July 20th. They set a “buy” rating and a $57.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Kinetik presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.27.

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.