SIR Capital Management L.P. Has $24.23 Million Stake in Kinetik Holdings Inc. $KNTK

SIR Capital Management L.P. boosted its position in Kinetik Holdings Inc. (NYSE:KNTK) by 195.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 672,090 shares of the company’s stock after buying an additional 444,368 shares during the period. Kinetik makes up 2.7% of SIR Capital Management L.P.’s holdings, making the stock its 12th biggest holding. SIR Capital Management L.P.’s holdings in Kinetik were worth $24,229,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in KNTK. CWM LLC raised its holdings in shares of Kinetik by 89.8% during the fourth quarter. CWM LLC now owns 744 shares of the company’s stock valued at $27,000 after purchasing an additional 352 shares during the period. Signaturefd LLC raised its holdings in shares of Kinetik by 101.5% during the fourth quarter. Signaturefd LLC now owns 802 shares of the company’s stock valued at $29,000 after purchasing an additional 404 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of Kinetik during the fourth quarter valued at about $40,000. Huntington National Bank raised its holdings in shares of Kinetik by 139.1% during the fourth quarter. Huntington National Bank now owns 1,222 shares of the company’s stock valued at $44,000 after purchasing an additional 711 shares during the period. Finally, SBI Okasan Asset Management Co.Ltd. acquired a new position in shares of Kinetik during the fourth quarter valued at about $47,000. Institutional investors and hedge funds own 21.11% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Isq Global Fund Ii Gp Llc sold 534,564 shares of the firm’s stock in a transaction dated 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 transaction, the insider owned 428,894 shares of the company’s stock, valued at approximately $21,667,724.88. This trade represents a 55.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 1,071,107 shares of company stock valued at $53,172,463. 3.56% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

KNTK has been the subject of several recent research reports. Truist Financial started coverage on Kinetik in a report on Tuesday, March 24th. They set a “buy” rating and a $53.00 price objective for the company. Mizuho increased their target price on Kinetik from $48.00 to $51.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Wells Fargo & Company upgraded Kinetik from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $47.00 to $52.00 in a report on Wednesday, March 25th. Zacks Research upgraded Kinetik from a “strong sell” rating to a “hold” rating in a report on Thursday, March 26th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $51.00 target price on shares of Kinetik in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $49.17.

Kinetik Stock Performance

Shares of NYSE KNTK opened at $47.41 on Friday. Kinetik Holdings Inc. has a fifty-two week low of $31.33 and a fifty-two week high of $51.51. The stock has a market cap of $7.70 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 2.44 and a beta of 0.57. The firm’s 50-day simple moving average is $47.82 and its 200 day simple moving average is $42.93.

Kinetik (NYSE:KNTK) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.23). Kinetik had a net margin of 28.58% and a negative return on equity of 36.36%. The business had revenue of $409.98 million during the quarter. During the same quarter last year, the firm posted $0.05 earnings per share. The business’s quarterly revenue was down 7.5% compared to the same quarter last year. On average, sell-side analysts predict that Kinetik Holdings Inc. will post 0.62 EPS for the current year.

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.