Catalyst Capital Advisors LLC Cuts Stock Position in Kinetik Holdings Inc. $KNTK

Catalyst Capital Advisors LLC lessened its holdings in Kinetik Holdings Inc. (NYSE:KNTK) by 5.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 401,767 shares of the company’s stock after selling 24,896 shares during the period. Catalyst Capital Advisors LLC’s holdings in Kinetik were worth $14,484,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. CWM LLC increased its stake in Kinetik by 89.8% in the 4th quarter. CWM LLC now owns 744 shares of the company’s stock worth $27,000 after buying an additional 352 shares in the last quarter. Signaturefd LLC increased its stake in Kinetik by 101.5% in the 4th quarter. Signaturefd LLC now owns 802 shares of the company’s stock worth $29,000 after buying an additional 404 shares in the last quarter. Huntington National Bank increased its stake in Kinetik by 139.1% in the 4th quarter. Huntington National Bank now owns 1,222 shares of the company’s stock worth $44,000 after buying an additional 711 shares in the last quarter. SBI Okasan Asset Management Co.Ltd. purchased a new stake in Kinetik in the 4th quarter worth $47,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Kinetik in the 3rd quarter worth $54,000. Hedge funds and other institutional investors own 21.11% of the company’s stock.

Kinetik Trading Down 1.6%

Shares of NYSE:KNTK opened at $45.91 on Friday. Kinetik Holdings Inc. has a 12 month low of $31.33 and a 12 month high of $51.51. The company has a 50-day moving average price of $48.03 and a 200 day moving average price of $42.03. The company has a market cap of $7.45 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 1.91 and a beta of 0.61.

Kinetik (NYSE:KNTK) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates 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 period last year, the firm posted $0.05 earnings per share. The company’s revenue was down 7.5% compared to the same quarter last year. As a group, equities analysts forecast that Kinetik Holdings Inc. will post 0.78 EPS for the current year.

Insider Buying and Selling at Kinetik

In related news, major shareholder Isq Global Fund Ii Gp Llc sold 534,564 shares of the 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 completion of 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 is accessible through this hyperlink. Also, insider Matthew Wall sold 3,222 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $46.92, for a total transaction of $151,176.24. Following the completion of the transaction, the insider directly owned 585,556 shares of the company’s stock, valued at approximately $27,474,287.52. The trade was a 0.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,078,855 shares of company stock worth $53,535,999 in the last 90 days. 3.56% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KNTK. Barclays set a $50.00 price target on Kinetik and gave the stock an “equal weight” rating in a research note on Thursday, May 14th. Zacks Research upgraded Kinetik from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 26th. Wells Fargo & Company upgraded Kinetik from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $47.00 to $52.00 in a research note on Wednesday, March 25th. UBS Group cut their price target on Kinetik from $49.00 to $48.00 and set a “neutral” rating for the company in a research note on Monday, March 16th. Finally, Citigroup reiterated a “buy” rating and issued a $52.00 price target (up from $51.00) on shares of Kinetik in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.92.

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.