Cwm LLC Has $172,000 Holdings in Kinetik Holdings Inc. (NASDAQ:KNTK)

Cwm LLC increased its holdings in shares of Kinetik Holdings Inc. (NASDAQ:KNTK) by 2,030.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,793 shares of the company’s stock after acquiring an additional 3,615 shares during the period. Cwm LLC’s holdings in Kinetik were worth $172,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in KNTK. Commonwealth Equity Services LLC grew its holdings in shares of Kinetik by 3.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 38,264 shares of the company’s stock valued at $1,526,000 after acquiring an additional 1,387 shares in the last quarter. Private Advisor Group LLC bought a new position in Kinetik in the first quarter valued at approximately $359,000. Capstone Investment Advisors LLC bought a new position in Kinetik in the first quarter valued at approximately $1,009,000. Kayne Anderson Capital Advisors LP increased its position in shares of Kinetik by 1,992.8% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 1,164,974 shares of the company’s stock worth $46,448,000 after purchasing an additional 1,109,308 shares during the last quarter. Finally, Quantbot Technologies LP raised its stake in shares of Kinetik by 313.9% during the 1st quarter. Quantbot Technologies LP now owns 48,899 shares of the company’s stock worth $1,950,000 after purchasing an additional 37,085 shares in the last quarter. Institutional investors and hedge funds own 21.11% of the company’s stock.

Kinetik Trading Up 0.4 %

Shares of KNTK stock opened at $50.69 on Thursday. The firm has a market capitalization of $7.79 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 2.60 and a beta of 2.91. The business’s 50-day moving average price is $45.98 and its 200-day moving average price is $42.45. Kinetik Holdings Inc. has a 12 month low of $31.73 and a 12 month high of $51.16.

Kinetik (NASDAQ:KNTK) last announced its earnings results on Wednesday, August 7th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.11. The business had revenue of $359.50 million during the quarter, compared to analyst estimates of $305.94 million. Kinetik had a negative return on equity of 48.16% and a net margin of 30.96%. Kinetik’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period last year, the company earned $0.41 EPS. On average, sell-side analysts predict that Kinetik Holdings Inc. will post 1.39 earnings per share for the current fiscal year.

Kinetik Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 7th. Stockholders of record on Monday, October 28th will be given a $0.78 dividend. The ex-dividend date of this dividend is Monday, October 28th. This is a positive change from Kinetik’s previous quarterly dividend of $0.75. This represents a $3.12 annualized dividend and a dividend yield of 6.16%. Kinetik’s dividend payout ratio (DPR) is 127.87%.

Analysts Set New Price Targets

A number of brokerages have recently commented on KNTK. Royal Bank of Canada lifted their price objective on shares of Kinetik from $46.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Barclays lifted their price target on Kinetik from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Finally, Scotiabank upped their price objective on Kinetik from $42.00 to $48.00 and gave the company a “sector outperform” rating in a research note on Tuesday, July 2nd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Kinetik presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.86.

Kinetik Company Profile

Kinetik Holdings Inc operates as a midstream company in the Texas Delaware Basin. The company operates through two segments, Midstream Logistics and Pipeline Transportation. It provides gathering, transportation, compression, processing, stabilization, treating, storage, and transportation services for companies that produce natural gas, natural gas liquids, and crude oil; and water gathering and disposal services.