Kinetik Holdings Inc. (NYSE:KNTK – Get Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 4,585 shares of the business’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $55.19, for a total transaction of $253,046.15. Following the completion of the sale, the insider directly owned 734,168 shares of the company’s stock, valued at $40,518,731.92. The trade was a 0.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Isq Global Fund Ii Gp Llc also recently made the following trade(s):
- On Thursday, September 10th, Isq Global Fund Ii Gp Llc sold 5,840 shares of Kinetik stock. The stock was sold at an average price of $55.39, for a total transaction of $323,477.60.
- On Tuesday, September 8th, Isq Global Fund Ii Gp Llc sold 58,383 shares of Kinetik stock. The shares were sold at an average price of $55.14, for a total value of $3,219,238.62.
- On Tuesday, September 1st, Isq Global Fund Ii Gp Llc sold 45,428 shares of Kinetik stock. The shares were sold at an average price of $55.06, for a total value of $2,501,265.68.
- On Wednesday, August 26th, Isq Global Fund Ii Gp Llc sold 76,260 shares of Kinetik stock. The shares were sold at an average price of $55.28, for a total value of $4,215,652.80.
- On Friday, August 21st, Isq Global Fund Ii Gp Llc sold 6,963 shares of Kinetik stock. The shares were 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 shares were 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 shares were 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 transaction of $5,834,670.00.
Kinetik Stock Performance
NYSE:KNTK traded down $0.27 during trading hours on Thursday, hitting $54.28. 1,660,324 shares of the company’s stock traded hands, compared to its average volume of 919,753. Kinetik Holdings Inc. has a twelve month low of $31.33 and a twelve month high of $56.92. The firm has a market cap of $8.81 billion, a P/E ratio of 18.43, a P/E/G ratio of 1.35 and a beta of 0.57. The stock’s fifty day moving average price is $51.68 and its two-hundred day moving average price is $48.79.
Hedge Funds Weigh In On Kinetik
Several institutional investors have recently modified their holdings of KNTK. Tidal Investments LLC boosted its position in Kinetik by 19.8% during the 2nd quarter. Tidal Investments LLC now owns 29,777 shares of the company’s stock worth $1,439,000 after acquiring an additional 4,930 shares during the last quarter. Engineers Gate Manager LP bought a new position in Kinetik during the 2nd quarter worth $259,000. Integrated Wealth Concepts LLC bought a new stake in shares of Kinetik in the second quarter valued at about $71,000. NewEdge Advisors LLC increased its position in Kinetik by 12.9% during the second quarter. NewEdge Advisors LLC now owns 46,187 shares of the company’s stock worth $2,233,000 after acquiring an additional 5,269 shares during the period. Finally, IFP Advisors Inc raised its stake in Kinetik by 28.3% in the 2nd quarter. IFP Advisors Inc now owns 3,101 shares of the company’s stock worth $150,000 after purchasing an additional 684 shares in the last quarter. 21.11% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts have issued reports on the company. Wall Street Zen raised Kinetik from a “strong sell” rating to a “hold” rating in a report on Saturday, August 8th. Tudor Pickering started coverage on Kinetik in a report on Monday, July 20th. They set a “buy” rating and a $57.00 price objective on the stock. Jefferies Financial Group reiterated a “hold” rating and set a $56.00 price target on shares of Kinetik in a research note on Wednesday. Weiss Ratings upgraded shares of Kinetik from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 11th. Finally, Scotiabank restated an “outperform” rating and set a $58.00 price target (up from $52.00) on shares of Kinetik in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Kinetik has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.
Read Our Latest Report on KNTK
About Kinetik
Kinetik Holdings Inc (NYSE: KNTK) is a midstream energy company that provides gathering, processing, transportation and logistics services for oil and natural gas producers. The company’s operations are focused primarily on the Delaware Basin, a major producing region within the Permian Basin of West Texas and southeastern New Mexico.
Kinetik’s services include natural gas gathering and processing, natural gas liquids transportation and handling, crude oil logistics, and long-haul natural gas transportation.
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