Kinetik (NYSE:KNTK) Stock: Insider Isq Global Fund Ii Gp Llc Sells 2,000,000 Shares

Kinetik Holdings Inc. (NYSE:KNTK – Get Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 2,000,000 shares of the firm’s stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $54.77, for a total transaction of $109,540,000.00. Following the transaction, the insider directly owned 1 shares in the company, valued at $54.77. The trade was a 100.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more 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 Monday, October 12th, Isq Global Fund Ii Gp Llc sold 38,377 shares of Kinetik stock. The stock was sold at an average price of $54.19, for a total value of $2,079,649.63.
  • On Friday, October 9th, Isq Global Fund Ii Gp Llc sold 58,439 shares of Kinetik stock. The shares were sold at an average price of $54.21, for a total transaction of $3,167,978.19.
  • On Thursday, October 8th, Isq Global Fund Ii Gp Llc sold 119,203 shares of Kinetik stock. The shares were sold at an average price of $54.29, for a total value of $6,471,530.87.
  • On Wednesday, October 7th, Isq Global Fund Ii Gp Llc sold 58,464 shares of Kinetik stock. The shares were sold at an average price of $53.79, for a total value of $3,144,778.56.
  • On Tuesday, October 6th, Isq Global Fund Ii Gp Llc sold 94,570 shares of Kinetik stock. The stock was sold at an average price of $54.00, for a total transaction of $5,106,780.00.
  • On Monday, October 5th, Isq Global Fund Ii Gp Llc sold 15,088 shares of Kinetik stock. The stock was sold at an average price of $53.53, for a total transaction of $807,660.64.
  • On Wednesday, September 23rd, Isq Global Fund Ii Gp Llc sold 24,194 shares of Kinetik stock. The stock was sold at an average price of $53.55, for a total transaction of $1,295,588.70.
  • On Tuesday, September 22nd, Isq Global Fund Ii Gp Llc sold 39,937 shares of Kinetik stock. The shares were sold at an average price of $53.72, for a total value of $2,145,415.64.
  • On Monday, September 21st, Isq Global Fund Ii Gp Llc sold 21,511 shares of Kinetik stock. The shares were sold at an average price of $53.59, for a total transaction of $1,152,774.49.
  • On Friday, September 18th, Isq Global Fund Ii Gp Llc sold 135,084 shares of Kinetik stock. The stock was sold at an average price of $54.25, for a total transaction of $7,328,307.00.

Kinetik Stock Performance

Shares of Kinetik stock opened at $55.26 on Friday. The stock has a market capitalization of $8.97 billion, a PE ratio of 18.05, a price-to-earnings-growth ratio of 1.23 and a beta of 0.61. The company has a 50-day simple moving average of $53.59 and a two-hundred day simple moving average of $50.12. Kinetik Holdings Inc. has a 52-week low of $31.33 and a 52-week high of $56.92.

Kinetik (NYSE:KNTK – Get Free Report) last posted its quarterly 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. Kinetik had a net margin of 26.19% and a negative return on equity of 38.96%. The business had revenue of $581.44 million during the quarter, compared to analyst estimates of $421.48 million. During the same period in the prior year, the business posted $0.33 earnings per share. The company’s revenue was up 36.3% on a year-over-year basis. As a group, equities research analysts forecast that Kinetik Holdings Inc. will post 1.40 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on KNTK shares. Tudor Pickering assumed coverage on Kinetik in a report on Monday, July 20th. They set 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 report on Monday, August 17th. Wall Street Zen raised shares of Kinetik from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. lifted their price target on shares of Kinetik from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $56.00 price target on shares of Kinetik in a report on Wednesday, September 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.67.

View Our Latest Report on Kinetik

Institutional Investors Weigh In On Kinetik

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KNTK. Allworth Financial LP boosted its position in Kinetik by 72.4% during the second quarter. Allworth Financial LP now owns 569 shares of the company’s stock worth $28,000 after purchasing an additional 239 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Kinetik during the second quarter worth approximately $71,000. Nykredit A S purchased a new position in shares of Kinetik in the 2nd quarter valued at $109,000. GAMMA Investing LLC grew its stake in shares of Kinetik by 10.5% in the second quarter. GAMMA Investing LLC now owns 2,882 shares of the company’s stock valued at $139,000 after buying an additional 273 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in Kinetik in the 1st quarter worth $140,000. Hedge funds and other institutional investors own 21.11% of the company’s stock.

Kinetik Company Profile

(Get Free Report)

Kinetik Holdings Inc (NYSE: KNTK) is a midstream energy company that provides infrastructure and logistics services for natural gas, natural gas liquids (NGLs), crude oil and produced water. The company primarily serves producers operating in the Delaware Basin, a major oil and gas-producing region within the Permian Basin of West Texas and southeastern New Mexico.

Kinetik’s operations include natural gas gathering, compression, processing and transportation, as well as NGL transportation and pipeline logistics.

See Also

Insider Buying and Selling by Quarter for Kinetik (NYSE:KNTK)

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