Kinetik Holdings Inc. (NYSE:KNTK – Get Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 26,550 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $50.24, for a total transaction of $1,333,872.00. Following the completion of the sale, the insider owned 1,664,820 shares in the company, valued at $83,640,556.80. This represents a 1.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Isq Global Fund Ii Gp Llc also recently made the following trade(s):
- On Thursday, August 6th, Isq Global Fund Ii Gp Llc sold 235,349 shares of Kinetik stock. The stock was 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 stock was sold at an average price of $50.04, for a total transaction of $108,837.00.
Kinetik Stock Performance
NYSE:KNTK traded down $1.09 on Friday, hitting $49.08. 1,145,809 shares of the stock were exchanged, compared to its average volume of 967,348. The stock has a market capitalization of $7.97 billion, a price-to-earnings ratio of 16.95, a P/E/G ratio of 1.98 and a beta of 0.56. The company’s 50-day moving average price is $48.31 and its 200 day moving average price is $46.59. Kinetik Holdings Inc. has a 52 week low of $31.33 and a 52 week high of $52.54.
Institutional Trading of Kinetik
A number of institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its position in 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 acquiring an additional 273 shares during the last quarter. ProShare Advisors LLC boosted its position in Kinetik by 3.5% in the fourth quarter. ProShare Advisors LLC now owns 8,633 shares of the company’s stock worth $311,000 after purchasing an additional 294 shares during the last quarter. Maryland State Retirement & Pension System grew 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 valued at $238,000 after purchasing an additional 337 shares during the period. Federated Hermes Inc. grew 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 valued at $3,926,000 after purchasing an additional 346 shares during the period. Finally, CWM LLC increased its position in shares of Kinetik by 89.8% during the 4th quarter. CWM LLC now owns 744 shares of the company’s stock valued at $27,000 after purchasing an additional 352 shares during the last quarter. 21.11% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the stock. Barclays set a $51.00 price objective on shares of Kinetik and gave the company an “equal weight” rating in a report on Thursday. Raymond James Financial restated an “outperform” rating and set a $55.00 price objective on shares of Kinetik in a research note on Friday. JPMorgan Chase & Co. upped their target price on shares of Kinetik from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Weiss Ratings upgraded shares of Kinetik from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 6th. Finally, Tudor Pickering began coverage on Kinetik in a report on Monday, July 20th. They set a “buy” rating and a $57.00 target price on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Kinetik currently has an average rating of “Moderate Buy” and a consensus price target of $52.07.
Check Out Our Latest Research Report on Kinetik
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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