Kinetik Holdings Inc. (NASDAQ:KNTK) Shares Sold by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL cut its stake in Kinetik Holdings Inc. (NASDAQ:KNTK) by 64.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,348 shares of the company’s stock after selling 156,844 shares during the period. Tudor Investment Corp ET AL’s holdings in Kinetik were worth $4,954,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Fifth Third Bancorp acquired a new stake in shares of Kinetik during the fourth quarter worth about $26,000. Canton Hathaway LLC purchased a new position in Kinetik during the 4th quarter worth approximately $28,000. GAMMA Investing LLC lifted its stake in Kinetik by 72.0% during the 4th quarter. GAMMA Investing LLC now owns 509 shares of the company’s stock valued at $29,000 after acquiring an additional 213 shares during the period. Rialto Wealth Management LLC acquired a new stake in shares of Kinetik in the fourth quarter worth $34,000. Finally, Sterling Capital Management LLC raised its holdings in shares of Kinetik by 789.4% during the fourth quarter. Sterling Capital Management LLC now owns 1,094 shares of the company’s stock worth $62,000 after purchasing an additional 971 shares during the last quarter. Hedge funds and other institutional investors own 21.11% of the company’s stock.

Insider Activity

In other news, major shareholder Isq Global Fund Ii Gp Llc sold 3,952,431 shares of Kinetik stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $55.63, for a total value of $219,873,736.53. Following the sale, the insider now directly owns 1,044,520 shares of the company’s stock, valued at $58,106,647.60. The trade was a 79.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Scotiabank lowered their price target on shares of Kinetik from $62.00 to $60.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th. UBS Group assumed coverage on Kinetik in a research note on Tuesday. They issued a “neutral” rating and a $49.00 target price on the stock. Wells Fargo & Company reduced their price target on Kinetik from $60.00 to $58.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. US Capital Advisors upgraded Kinetik from a “hold” rating to a “moderate buy” rating in a research report on Monday, April 7th. Finally, Barclays lifted their target price on shares of Kinetik from $57.00 to $58.00 and gave the company an “equal weight” rating in a report on Wednesday, April 16th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $58.56.

Kinetik Price Performance

Shares of KNTK stock opened at $41.02 on Friday. The stock has a 50 day simple moving average of $48.71 and a 200-day simple moving average of $54.85. Kinetik Holdings Inc. has a 1-year low of $37.85 and a 1-year high of $67.60. The company has a market cap of $6.47 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 1.52 and a beta of 2.68.

Kinetik Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Friday, April 25th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 7.61%. The ex-dividend date of this dividend is Friday, April 25th. Kinetik’s payout ratio is 305.88%.

Kinetik Company Profile

Kinetik Holdings Inc operates as a midstream company in the Texas Delaware Basin. The company operates through two segments, Midstream Logistics and Pipeline Transportation. It provides gathering, transportation, compression, processing, stabilization, treating, storage, and transportation services for companies that produce natural gas, natural gas liquids, and crude oil; and water gathering and disposal services.