Versor Investments LP Decreases Position in Kinetik Holdings Inc. $KNTK

Versor Investments LP decreased its holdings in shares of Kinetik Holdings Inc. (NYSE:KNTK) by 70.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,700 shares of the company’s stock after selling 13,800 shares during the quarter. Versor Investments LP’s holdings in Kinetik were worth $205,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in KNTK. Comerica Bank lifted its stake in Kinetik by 91.5% during the first quarter. Comerica Bank now owns 1,532 shares of the company’s stock worth $80,000 after purchasing an additional 732 shares during the last quarter. AQR Capital Management LLC lifted its stake in Kinetik by 4.2% during the first quarter. AQR Capital Management LLC now owns 12,900 shares of the company’s stock worth $670,000 after purchasing an additional 522 shares during the last quarter. Millennium Management LLC lifted its stake in Kinetik by 88.7% during the first quarter. Millennium Management LLC now owns 132,533 shares of the company’s stock worth $6,884,000 after purchasing an additional 62,306 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Kinetik by 27.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 79,532 shares of the company’s stock worth $4,131,000 after purchasing an additional 17,034 shares during the last quarter. Finally, Intech Investment Management LLC lifted its stake in Kinetik by 14.3% during the first quarter. Intech Investment Management LLC now owns 22,114 shares of the company’s stock worth $1,149,000 after purchasing an additional 2,766 shares during the last quarter. Hedge funds and other institutional investors own 21.11% of the company’s stock.

Kinetik Price Performance

Shares of KNTK stock opened at $51.29 on Friday. The business’s fifty day moving average price is $47.27 and its 200 day moving average price is $41.21. Kinetik Holdings Inc. has a 1-year low of $31.33 and a 1-year high of $51.51. The firm has a market capitalization of $8.33 billion, a PE ratio of 20.93, a P/E/G ratio of 1.95 and a beta of 0.61.

Kinetik (NYSE:KNTK) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.23). The business had revenue of $409.98 million for the quarter. Kinetik had a negative return on equity of 36.36% and a net margin of 28.58%.Kinetik’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.05 earnings per share. Equities research analysts expect that Kinetik Holdings Inc. will post 0.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Citigroup reiterated a “buy” rating and issued a $52.00 price objective (up from $51.00) on shares of Kinetik in a research note on Tuesday. Barclays set a $50.00 price objective on Kinetik and gave the company an “equal weight” rating in a research note on Thursday. Weiss Ratings cut Kinetik from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Scotiabank reiterated an “outperform” rating and issued a $52.00 price objective (up from $51.00) on shares of Kinetik in a research note on Tuesday. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $51.00 price objective on shares of Kinetik in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.92.

Insider Transactions at Kinetik

In other Kinetik news, insider Matthew Wall sold 3,222 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $46.92, for a total value of $151,176.24. Following the sale, the insider owned 585,556 shares of the company’s stock, valued at approximately $27,474,287.52. This represents a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Isq Global Fund Ii Gp Llc sold 534,564 shares of the company’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $50.52, for a total value of $27,006,173.28. Following the completion of the sale, the insider directly owned 428,894 shares in the company, valued at $21,667,724.88. This trade represents a 55.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 5,078,855 shares of company stock worth $232,935,999 over the last ninety days. 3.56% of the stock is currently owned by company insiders.

Kinetik Profile

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.