Isq Global Fund Ii Gp Llc Sells 76,260 Shares of Kinetik (NYSE:KNTK) Stock

Kinetik Holdings Inc. (NYSE:KNTK) major shareholder Isq Global Fund Ii Gp Llc sold 76,260 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $55.28, for a total value of $4,215,652.80. Following the completion of the transaction, the insider owned 842,564 shares in the company, valued at approximately $46,576,937.92. The trade was a 8.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 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 Friday, August 21st, Isq Global Fund Ii Gp Llc sold 6,963 shares of Kinetik stock. The stock was sold at an average price of $55.17, for a total value of $384,148.71.
• On Tuesday, August 18th, Isq Global Fund Ii Gp Llc sold 64,898 shares of Kinetik stock. The stock was sold at an average price of $54.32, for a total value of $3,525,259.36.
• On Thursday, August 20th, Isq Global Fund Ii Gp Llc sold 3,107 shares of Kinetik stock. The shares were sold at an average price of $55.07, for a total value of $171,102.49.
• On Monday, August 17th, Isq Global Fund Ii Gp Llc sold 135,102 shares of Kinetik stock. The shares were sold at an average price of $52.78, for a total transaction of $7,130,683.56.
• On Friday, August 14th, Isq Global Fund Ii Gp Llc sold 112,160 shares of Kinetik stock. The shares were sold at an average price of $53.48, for a total transaction of $5,998,316.80.
• On Thursday, August 13th, Isq Global Fund Ii Gp Llc sold 113,075 shares of Kinetik stock. The stock was sold at an average price of $51.60, for a total transaction of $5,834,670.00.
• On Wednesday, August 12th, Isq Global Fund Ii Gp Llc sold 84,701 shares of Kinetik stock. The stock was sold at an average price of $51.52, for a total transaction of $4,363,795.52.
• On Tuesday, August 11th, Isq Global Fund Ii Gp Llc sold 147,516 shares of Kinetik stock. The shares were sold at an average price of $52.03, for a total transaction of $7,675,257.48.
• On Monday, August 10th, Isq Global Fund Ii Gp Llc sold 78,474 shares of Kinetik stock. The shares were sold at an average price of $50.87, for a total transaction of $3,991,972.38.
• On Friday, August 7th, Isq Global Fund Ii Gp Llc sold 26,550 shares of Kinetik stock. The shares were sold at an average price of $50.24, for a total transaction of $1,333,872.00.

Kinetik Price Performance

Shares of NYSE:KNTK opened at $54.02 on Friday. The company’s fifty day moving average price is $50.54 and its 200 day moving average price is $47.99. Kinetik Holdings Inc. has a 12 month low of $31.33 and a 12 month high of $56.10. The firm has a market capitalization of $8.77 billion, a P/E ratio of 19.57, a P/E/G ratio of 1.33 and a beta of 0.56.

Kinetik (NYSE:KNTK) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.45. The company had revenue of $581.44 million during the quarter, compared to the consensus estimate of $421.48 million. Kinetik had a net margin of 26.19% and a negative return on equity of 38.96%. Kinetik’s revenue for the quarter was up 36.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.33 earnings per share. On average, sell-side analysts anticipate that Kinetik Holdings Inc. will post 1.3 EPS for the current year.

Wall Street Analyst Weigh In

KNTK has been the subject of a number of research analyst reports. Tudor Pickering started coverage on Kinetik in a research report on Monday, July 20th. They issued a “buy” rating and a $57.00 target price for the company. Clear Str lowered Kinetik from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. Wall Street Zen upgraded Kinetik from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 8th. Jefferies Financial Group reissued a “hold” rating and issued a $51.00 price objective on shares of Kinetik in a report on Friday, May 8th. Finally, Citigroup restated a “buy” rating and set a $55.00 target price (up from $52.00) on shares of Kinetik in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Kinetik currently has a consensus rating of “Moderate Buy” and an average price target of $53.27.

Institutional Investors Weigh In On Kinetik

Hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System raised its stake in Kinetik by 4,839.8% during the 2nd quarter. California State Teachers Retirement System now owns 2,898,031 shares of the company’s stock valued at $140,091,000 after acquiring an additional 2,839,364 shares during the last quarter. Zimmer Partners LP acquired a new stake in Kinetik during the 4th quarter worth approximately $98,611,000. Wellington Management Group LLP lifted its position in Kinetik by 149.6% during the 4th quarter. Wellington Management Group LLP now owns 1,608,403 shares of the company’s stock worth $57,983,000 after acquiring an additional 964,130 shares during the period. Cohen & Steers Inc. grew its stake in shares of Kinetik by 82.5% in the 4th quarter. Cohen & Steers Inc. now owns 1,843,506 shares of the company’s stock valued at $66,458,000 after purchasing an additional 833,224 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Kinetik by 382.8% in the 4th quarter. Principal Financial Group Inc. now owns 1,018,692 shares of the company’s stock valued at $36,724,000 after purchasing an additional 807,707 shares during the last quarter. Institutional investors and hedge funds own 21.11% of the company’s stock.

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.