Kinetik Holdings Inc. (NYSE:KNTK – Get Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 14,889 shares of the company’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $55.07, for a total transaction of $819,937.23. Following the completion of the transaction, the insider owned 961,114 shares in the company, valued at approximately $52,928,547.98. This represents a 1.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large 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 Monday, November 2nd, Isq Global Fund Ii Gp Llc sold 3,267 shares of Kinetik stock. The stock was sold at an average price of $55.13, for a total value of $180,109.71.
- 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 shares were 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 stock was sold at an average price of $54.19, for a total transaction of $2,079,649.63.
- On Friday, October 9th, Isq Global Fund Ii Gp Llc sold 58,439 shares of Kinetik stock. The stock was 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 shares were 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 value of $3,144,778.56.
- On Tuesday, October 6th, Isq Global Fund Ii Gp Llc sold 94,570 shares of Kinetik stock. The shares were sold at an average price of $54.00, for a total value 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 Price Performance
NYSE:KNTK opened at $49.22 on Friday. The firm has a market capitalization of $7.99 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 1.14 and a beta of 0.67. The business’s fifty day moving average price is $53.95 and its 200 day moving average price is $48.91. Kinetik Holdings Inc. has a 12 month low of $31.33 and a 12 month high of $58.90.
Kinetik (NYSE:KNTK – Get Free Report) last posted its earnings results on Wednesday, November 4th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.14). The business had revenue of $569.40 million for the quarter. Kinetik had a negative return on equity of 44.80% and a net margin of 25.65%. The firm’s revenue was up 22.7% compared to the same quarter last year. During the same period last year, the firm posted $0.03 EPS. As a group, equities analysts anticipate that Kinetik Holdings Inc. will post 1.44 EPS for the current year.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the stock. Raymond James Financial reissued an “outperform” rating and set a $57.00 price objective on shares of Kinetik in a research report on Tuesday, October 20th. Morgan Stanley dropped their target price on Kinetik from $70.00 to $67.00 and set an “overweight” rating on the stock in a report on Wednesday, October 21st. Tudor Pickering initiated coverage on Kinetik in a report on Monday, July 20th. They set a “buy” rating and a $57.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on shares of Kinetik from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Finally, Citigroup reissued a “buy” rating and issued a $55.00 price objective (up from $52.00) on shares of Kinetik in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Kinetik has a consensus rating of “Moderate Buy” and an average price target of $55.47.
Get Our Latest Analysis on Kinetik
Hedge Funds Weigh In On Kinetik
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP grew its holdings in Kinetik by 72.4% during the 2nd quarter. Allworth Financial LP now owns 569 shares of the company’s stock valued at $28,000 after buying an additional 239 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in shares of Kinetik by 5,693.8% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 927 shares of the company’s stock valued at $47,000 after buying an additional 911 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Kinetik in the 2nd quarter worth approximately $71,000. Signaturefd LLC raised its holdings in Kinetik by 21.3% in the 3rd quarter. Signaturefd LLC now owns 1,714 shares of the company’s stock valued at $86,000 after acquiring an additional 301 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Kinetik by 13,233.3% during the third quarter. Covestor Ltd now owns 2,000 shares of the company’s stock worth $100,000 after purchasing an additional 1,985 shares during the last quarter. 21.11% of the stock is owned by institutional investors and hedge funds.
Kinetik Company Profile
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.
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