Isq Global Fund Ii Gp Llc Sells 76,260 Shares of Kinetik (NYSE:KNTK) Stock

Kinetik Holdings Inc. (NYSE:KNTKGet Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 76,260 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $55.28, for a total value of $4,215,652.80. Following the completion of the transaction, the insider directly owned 842,564 shares in the company, valued at $46,576,937.92. This trade represents a 8.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 Friday, August 21st, Isq Global Fund Ii Gp Llc sold 6,963 shares of Kinetik stock. The stock was sold at an average price of $55.17, for a total value of $384,148.71.
  • On Tuesday, August 18th, Isq Global Fund Ii Gp Llc sold 64,898 shares of Kinetik stock. The stock was sold at an average price of $54.32, for a total value of $3,525,259.36.
  • 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction of $3,991,972.38.
  • On Friday, August 7th, Isq Global Fund Ii Gp Llc sold 26,550 shares of Kinetik stock. The shares were sold at an average price of $50.24, for a total transaction of $1,333,872.00.

Kinetik Price Performance

KNTK stock traded down $0.36 during mid-day trading on Friday, reaching $54.02. The company had a trading volume of 869,328 shares, compared to its average volume of 1,141,186. The company has a market capitalization of $8.77 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 1.34 and a beta of 0.56. The firm has a 50 day moving average of $50.54 and a 200 day moving average of $47.99. Kinetik Holdings Inc. has a 12 month low of $31.33 and a 12 month high of $56.10.

Kinetik (NYSE:KNTKGet Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.64 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 business had revenue of $581.44 million for the quarter, compared to analyst estimates of $421.48 million. During the same period last year, the company posted $0.33 earnings per share. The company’s quarterly revenue was up 36.3% compared to the same quarter last year. Analysts anticipate that Kinetik Holdings Inc. will post 1.3 EPS for the current year.

Hedge Funds Weigh In On Kinetik

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in shares of Kinetik by 10.5% during the second quarter. GAMMA Investing LLC now owns 2,882 shares of the company’s stock valued at $139,000 after buying an additional 273 shares during the last quarter. ProShare Advisors LLC grew 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 worth $311,000 after buying an additional 294 shares during the last quarter. Maryland State Retirement & Pension System raised 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 worth $238,000 after acquiring an additional 337 shares in the last quarter. Federated Hermes Inc. raised 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 worth $3,926,000 after acquiring an additional 346 shares in the last quarter. Finally, CWM LLC lifted its position in Kinetik by 89.8% during the fourth quarter. CWM LLC now owns 744 shares of the company’s stock valued at $27,000 after acquiring an additional 352 shares during the last quarter. Hedge funds and other institutional investors own 21.11% of the company’s stock.

Analysts Set New Price Targets

KNTK has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on Kinetik from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Raymond James Financial reiterated an “outperform” rating and issued a $55.00 target price on shares of Kinetik in a report on Friday, August 7th. Clear Str downgraded Kinetik from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. Wells Fargo & Company restated an “overweight” rating and set a $54.00 price target on shares of Kinetik in a research note on Monday, August 10th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $57.00 price objective (up from $56.00) on shares of Kinetik in a report on Tuesday, August 11th. One investment 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.27.

View Our Latest Stock Report on Kinetik

Kinetik Company Profile

(Get Free Report)

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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