Kinetik (NYSE:KNTK) Major Shareholder Isq Global Fund Ii Gp Llc Sells 78,474 Shares of Stock

Kinetik Holdings Inc. (NYSE:KNTK) major shareholder Isq Global Fund Ii Gp Llc sold 78,474 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $50.87, for a total transaction of $3,991,972.38. Following the completion of the transaction, the insider owned 1,586,346 shares in the company, valued at $80,697,421.02. This trade represents a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Isq Global Fund Ii Gp Llc also recently made the following trade(s):

• 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 stock was sold at an average price of $52.03, for a total transaction of $7,675,257.48.
• 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.
• On Thursday, August 6th, Isq Global Fund Ii Gp Llc sold 235,349 shares of Kinetik stock. The shares were sold at an average price of $50.52, for a total transaction of $11,889,831.48.
• On Monday, August 3rd, Isq Global Fund Ii Gp Llc sold 2,175 shares of Kinetik stock. The stock was sold at an average price of $50.04, for a total transaction of $108,837.00.

Kinetik Trading Up 0.2%

Shares of KNTK opened at $51.22 on Thursday. Kinetik Holdings Inc. has a 12 month low of $31.33 and a 12 month high of $52.69. The firm’s 50 day moving average is $48.64 and its 200-day moving average is $46.90. The stock has a market capitalization of $8.32 billion, a PE ratio of 18.56, a P/E/G ratio of 1.69 and a beta of 0.56.

Kinetik (NYSE:KNTK) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates 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%. The firm’s quarterly revenue was up 36.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.33 earnings per share. Equities research analysts predict that Kinetik Holdings Inc. will post 0.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Morgan Stanley set a $64.00 target price on Kinetik and gave the company an “overweight” rating in a research report on Wednesday, July 29th. US Capital Advisors upgraded Kinetik from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, May 29th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $51.00 price target on shares of Kinetik in a research note on Friday, May 8th. Truist Financial upped their price objective on shares of Kinetik from $53.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $54.00 price objective on shares of Kinetik in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Kinetik has an average rating of “Moderate Buy” and a consensus price target of $52.87.

Key Kinetik News

Here are the key news stories impacting Kinetik this week:

• Positive Sentiment: Truist raised its price target to $59 from $53 and maintained a “buy” rating. The new target implies approximately 15.2% upside from the referenced share price, signaling confidence in Kinetik’s growth prospects and valuation. Benzinga analyst report
• Neutral Sentiment: Analysts were reported to have set a price target of $51.40, broadly consistent with Kinetik’s recent trading level. This suggests limited near-term upside under that estimate, although it does not represent a rating downgrade. Analysts set Kinetik price target
• Negative Sentiment: Major shareholder ISQ Global Fund II GP LLC sold 310,691 Kinetik shares from August 10 through August 12 for approximately $16.0 million. The fund’s reported position fell from 1,586,346 shares to 1,354,129 shares, a reduction of about 14.6%. Although the sales may reflect portfolio management rather than concerns about Kinetik’s fundamentals, the size and consecutive timing of the disposals could weigh on investor sentiment and create additional supply. SEC insider transaction filing

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Zimmer Partners LP acquired a new stake in shares of Kinetik in the 4th quarter valued at $98,611,000. Wellington Management Group LLP raised its holdings in shares of 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 buying an additional 964,130 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its holdings in shares of Kinetik by 86.5% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,843,400 shares of the company’s stock worth $66,455,000 after buying an additional 855,000 shares in the last quarter. Cohen & Steers Inc. lifted its position in shares of Kinetik by 82.5% during the 4th quarter. Cohen & Steers Inc. now owns 1,843,506 shares of the company’s stock worth $66,458,000 after buying an additional 833,224 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Kinetik by 382.8% during the 4th quarter. Principal Financial Group Inc. now owns 1,018,692 shares of the company’s stock worth $36,724,000 after buying an additional 807,707 shares during the last quarter. 21.11% of the stock is currently owned by institutional investors and hedge funds.

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.