Kinetik Holdings Inc. (NYSE:KNTK – Get Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 147,516 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $52.03, for a total value of $7,675,257.48. Following the sale, the insider owned 1,438,830 shares in the company, valued at $74,862,324.90. The trade was a 9.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Isq Global Fund Ii Gp Llc also recently made the following trade(s):
- On Wednesday, August 12th, Isq Global Fund Ii Gp Llc sold 84,701 shares of Kinetik stock. The shares were sold at an average price of $51.52, for a total value of $4,363,795.52.
- On Monday, August 10th, Isq Global Fund Ii Gp Llc sold 78,474 shares of Kinetik stock. The stock was 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 shares were sold at an average price of $50.52, for a total value 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 Stock Performance
Shares of KNTK opened at $53.32 on Friday. The firm has a fifty day moving average of $48.92 and a 200-day moving average of $47.03. The company has a market cap of $8.66 billion, a price-to-earnings ratio of 19.32, a price-to-earnings-growth ratio of 1.70 and a beta of 0.56. Kinetik Holdings Inc. has a 1 year low of $31.33 and a 1 year high of $54.12.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. Wall Street Zen upgraded Kinetik from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 8th. Jefferies Financial Group reaffirmed a “hold” rating and set a $51.00 target price on shares of Kinetik in a research note on Friday, May 8th. Mizuho boosted their price target on Kinetik from $48.00 to $51.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Tudor Pickering started coverage on Kinetik in a research note on Monday, July 20th. They issued a “buy” rating and a $57.00 price target for the company. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $54.00 price target on shares of Kinetik in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.87.
Read Our Latest Report on Kinetik
Institutional Trading of Kinetik
Several institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC increased its position in shares of Kinetik by 89.8% in the fourth quarter. CWM LLC now owns 744 shares of the company’s stock worth $27,000 after acquiring an additional 352 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of 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 in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Kinetik in the fourth quarter worth $33,000. Los Angeles Capital Management LLC purchased a new position in shares of Kinetik during the fourth quarter valued at $40,000. Finally, Huntington National Bank grew its holdings in shares of Kinetik by 139.1% during the fourth quarter. Huntington National Bank now owns 1,222 shares of the company’s stock valued at $44,000 after buying an additional 711 shares in the last quarter. Institutional investors and hedge funds own 21.11% of the company’s stock.
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.
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