Kinetik (NYSE:KNTK) Major Shareholder Isq Global Fund Ii Gp Llc Sells 3,267 Shares of Company Stock

Kinetik Holdings Inc. (NYSE:KNTK – Get Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 3,267 shares of Kinetik stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $55.13, for a total value of $180,109.71. Following the completion of the transaction, the insider owned 976,003 shares in the company, valued at $53,807,045.39. The trade was a 0.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock 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 Tuesday, November 3rd, Isq Global Fund Ii Gp Llc sold 14,889 shares of Kinetik stock. The shares were sold at an average price of $55.07, for a total value of $819,937.23.
  • On Friday, October 30th, Isq Global Fund Ii Gp Llc sold 20,731 shares of Kinetik stock. The stock was sold at an average price of $56.69, for a total value of $1,175,240.39.
  • On Tuesday, October 13th, Isq Global Fund Ii Gp Llc sold 2,000,000 shares of Kinetik stock. The stock was sold at an average price of $54.77, for a total value of $109,540,000.00.
  • On Monday, October 12th, Isq Global Fund Ii Gp Llc sold 38,377 shares of Kinetik stock. The shares were sold at an average price of $54.19, for a total value of $2,079,649.63.
  • On Friday, October 9th, Isq Global Fund Ii Gp Llc sold 58,439 shares of Kinetik stock. The shares were sold at an average price of $54.21, for a total value of $3,167,978.19.
  • On Thursday, October 8th, Isq Global Fund Ii Gp Llc sold 119,203 shares of Kinetik stock. The stock was sold at an average price of $54.29, for a total value of $6,471,530.87.
  • On Wednesday, October 7th, Isq Global Fund Ii Gp Llc sold 58,464 shares of Kinetik stock. The stock was sold at an average price of $53.79, for a total transaction of $3,144,778.56.
  • On Tuesday, October 6th, Isq Global Fund Ii Gp Llc sold 94,570 shares of Kinetik stock. The stock was sold at an average price of $54.00, for a total transaction of $5,106,780.00.
  • On Monday, October 5th, Isq Global Fund Ii Gp Llc sold 15,088 shares of Kinetik stock. The stock was sold at an average price of $53.53, for a total transaction of $807,660.64.
  • On Wednesday, September 23rd, Isq Global Fund Ii Gp Llc sold 24,194 shares of Kinetik stock. The stock was sold at an average price of $53.55, for a total transaction of $1,295,588.70.

Kinetik Trading Up 1.4%

Shares of KNTK stock opened at $54.31 on Wednesday. The company’s fifty day simple moving average is $54.13 and its 200-day simple moving average is $48.79. Kinetik Holdings Inc. has a 52 week low of $31.33 and a 52 week high of $58.90. The company has a market cap of $8.82 billion, a PE ratio of 19.68, a P/E/G ratio of 1.19 and a beta of 0.67.

Kinetik (NYSE:KNTK – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.64 earnings per share 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 firm had revenue of $581.44 million during the quarter, compared to analysts’ expectations of $421.48 million. During the same period in the prior year, the company earned $0.33 EPS. The firm’s revenue was up 36.3% on a year-over-year basis. Equities research analysts expect that Kinetik Holdings Inc. will post 1.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Tudor Pickering began 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. Zacks Research downgraded Kinetik from a “strong-buy” rating to a “hold” rating in a report on Friday, October 30th. Barclays boosted their price target on Kinetik from $51.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 13th. Morgan Stanley decreased their price target on Kinetik from $70.00 to $67.00 and set an “overweight” rating for the company in a report on Wednesday, October 21st. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $57.00 price objective on shares of Kinetik in a research report on Tuesday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.47.

Read Our Latest Research Report on KNTK

Institutional Trading of Kinetik

Hedge funds and other institutional investors have recently modified their holdings of the business. Allworth Financial LP raised its position in shares of Kinetik by 72.4% in the 2nd quarter. Allworth Financial LP now owns 569 shares of the company’s stock valued at $28,000 after purchasing an additional 239 shares in the last quarter. GAMMA Investing LLC grew 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 worth $139,000 after buying an additional 273 shares in the last quarter. Royal Fund Management LLC grew its position in shares of Kinetik by 1.3% during the third quarter. Royal Fund Management LLC now owns 21,876 shares of the company’s stock worth $1,098,000 after buying an additional 289 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Kinetik by 4.0% in the third quarter. ProShare Advisors LLC now owns 7,676 shares of the company’s stock worth $385,000 after buying an additional 295 shares during the last quarter. Finally, Signaturefd LLC increased its stake in shares of Kinetik by 21.3% in the third quarter. Signaturefd LLC now owns 1,714 shares of the company’s stock worth $86,000 after buying an additional 301 shares during the last quarter. 21.11% of the stock is owned by hedge funds and other institutional investors.

Kinetik Company Profile

(Get Free Report)

Kinetik Holdings Inc is a midstream energy company that provides infrastructure and services for the gathering, processing, transportation and treatment of natural gas, crude oil and natural gas liquids. Its operations are focused primarily on the Permian Basin, where it connects hydrocarbon production to processing facilities, pipelines and downstream markets.

The company’s assets include natural gas gathering and processing systems, crude oil gathering infrastructure, natural gas liquids services and long-haul pipeline interests.

See Also

Insider Buying and Selling by Quarter for Kinetik (NYSE:KNTK)

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