Kinetik (NYSE:KNTK) Major Shareholder Isq Global Fund Ii Gp Llc Sells 5,840 Shares

Kinetik Holdings Inc. (NYSE:KNTK) major shareholder Isq Global Fund Ii Gp Llc sold 5,840 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $55.39, for a total value of $323,477.60. Following the completion of the sale, the insider owned 728,328 shares of the company’s stock, valued at $40,342,087.92. The trade was a 0.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 Wednesday, September 9th, Isq Global Fund Ii Gp Llc sold 4,585 shares of Kinetik stock. The shares were sold at an average price of $55.19, for a total value of $253,046.15.
• On Tuesday, September 8th, Isq Global Fund Ii Gp Llc sold 58,383 shares of Kinetik stock. The shares were sold at an average price of $55.14, for a total value of $3,219,238.62.
• On Tuesday, September 1st, Isq Global Fund Ii Gp Llc sold 45,428 shares of Kinetik stock. The stock was sold at an average price of $55.06, for a total value of $2,501,265.68.
• On Wednesday, August 26th, Isq Global Fund Ii Gp Llc sold 76,260 shares of Kinetik stock. The stock was sold at an average price of $55.28, for a total value of $4,215,652.80.
• On Friday, August 21st, Isq Global Fund Ii Gp Llc sold 6,963 shares of Kinetik stock. The shares were 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 shares were 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 stock was 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 stock was sold at an average price of $52.78, for a total value 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 shares were sold at an average price of $51.60, for a total transaction of $5,834,670.00.

Kinetik Stock Performance

KNTK stock opened at $54.28 on Friday. Kinetik Holdings Inc. has a one year low of $31.33 and a one year high of $56.92. The company’s fifty day moving average price is $51.68 and its 200-day moving average price is $48.79. The company has a market capitalization of $8.81 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 1.35 and a beta of 0.57.

Kinetik (NYSE:KNTK) last issued its earnings results on Wednesday, August 5th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.45. The firm had revenue of $581.44 million during the quarter, compared to analyst estimates 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 business earned $0.33 earnings per share. On average, research analysts predict that Kinetik Holdings Inc. will post 1.3 EPS for the current fiscal year.

Kinetik News Summary

Here are the key news stories impacting Kinetik this week:

• Positive Sentiment: A potential acquisition is the main bullish catalyst. Multiple reports say Kinetik is evaluating strategic options, including a sale, which could lead to takeover interest or a premium valuation for shareholders. Reuters: US pipeline operator Kinetik exploring potential sale
• Positive Sentiment: The sale speculation has attracted investor attention, with reports indicating Kinetik is weighing alternatives rather than being compelled to sell. The possibility of a strategic transaction may support the stock’s recent strength and keep merger-related speculation elevated. Bloomberg report via Seeking Alpha
• Neutral Sentiment: The reports do not identify a buyer, offer price, timetable, or certainty that a transaction will occur. Investors should therefore treat the takeover outlook as speculative; the stock could give back gains if discussions do not progress. MarketScreener report
• Negative Sentiment: Major shareholder ISQ Global Fund II GP LLC disclosed sales totaling 68,808 KNTK shares from September 8–10 for approximately $3.80 million. The transactions reduced its reported position, including a 7.32% decrease from the September 8 sale, which may create some negative sentiment or raise questions about insider confidence. SEC Form 4 filings

Institutional Trading of Kinetik

Hedge funds have recently made changes to their positions in the business. Miller Howard Investments Inc. NY raised its position in Kinetik by 69.4% in the 1st quarter. Miller Howard Investments Inc. NY now owns 146,317 shares of the company’s stock worth $7,083,000 after purchasing an additional 59,942 shares during the period. Infrastructure Capital Advisors LLC purchased a new position in shares of Kinetik during the fourth quarter valued at approximately $9,323,000. HighTower Advisors LLC boosted its position in shares of Kinetik by 33.1% during the fourth quarter. HighTower Advisors LLC now owns 102,906 shares of the company’s stock valued at $3,710,000 after buying an additional 25,574 shares during the period. Diversify Wealth Management LLC bought a new position in shares of Kinetik during the first quarter valued at approximately $1,612,000. Finally, SG Americas Securities LLC grew its stake in shares of Kinetik by 92.6% during the first quarter. SG Americas Securities LLC now owns 274,447 shares of the company’s stock valued at $13,286,000 after buying an additional 131,971 shares during the last quarter. 21.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on KNTK. JPMorgan Chase & Co. lifted their target price on Kinetik from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Scotiabank reissued an “outperform” rating and set a $58.00 price target (up from $52.00) on shares of Kinetik in a research note on Thursday. Citigroup restated a “buy” rating and set a $55.00 price target (up from $52.00) on shares of Kinetik in a report on Tuesday, August 11th. Clear Str downgraded Kinetik from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $56.00 price objective on shares of Kinetik in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, Kinetik currently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

About Kinetik

Kinetik Holdings Inc (NYSE: KNTK) is a midstream energy company that provides gathering, processing, transportation and logistics services for oil and natural gas producers. The company’s operations are focused primarily on the Delaware Basin, a major producing region within the Permian Basin of West Texas and southeastern New Mexico.

Kinetik’s services include natural gas gathering and processing, natural gas liquids transportation and handling, crude oil logistics, and long-haul natural gas transportation.