Isq Global Fund Ii Gp Llc Sells 84,701 Shares of Kinetik (NYSE:KNTK) Stock

Kinetik Holdings Inc. (NYSE:KNTK) major shareholder Isq Global Fund Ii Gp Llc sold 84,701 shares of Kinetik stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $51.52, for a total transaction of $4,363,795.52. Following the completion of the sale, the insider directly owned 1,354,129 shares in the company, valued at approximately $69,764,726.08. The trade was a 5.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• 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 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 value of $1,333,872.00.
• On Thursday, August 6th, Isq Global Fund Ii Gp Llc sold 235,349 shares of Kinetik stock. The stock was sold at an average price of $50.52, for a total value 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 value of $108,837.00.

Kinetik Price Performance

KNTK opened at $51.63 on Friday. The business has a 50 day simple moving average of $48.76 and a 200-day simple moving average of $46.99. The stock has a market capitalization of $8.38 billion, a P/E ratio of 18.71, a P/E/G ratio of 1.69 and a beta of 0.56. Kinetik Holdings Inc. has a 12 month low of $31.33 and a 12 month high of $52.69.

Kinetik (NYSE:KNTK) last posted 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 firm had revenue of $581.44 million for the quarter, compared to the consensus estimate of $421.48 million. Kinetik had a negative return on equity of 38.96% and a net margin of 26.19%.The company’s revenue for the quarter was up 36.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 earnings per share. Research analysts anticipate that Kinetik Holdings Inc. will post 0.97 EPS for the current year.

Trending Headlines about Kinetik

Here are the key news stories impacting Kinetik this week:

• Positive Sentiment: Truist raised its Kinetik price target to $59 from $53 and maintained a “buy” rating. The higher target implies meaningful upside from recent trading levels and signals increased confidence in the company’s outlook. Benzinga analyst report
• Positive Sentiment: Kinetik received a rating upgrade in a recent Seeking Alpha analysis. The report said factors affecting upstream activity are likely to dominate the company’s performance, providing a more constructive view of its growth and operating prospects. Seeking Alpha Kinetik analysis
• Neutral Sentiment: Kinetik’s latest quarterly results remain a favorable fundamental backdrop: revenue increased 36.3% year over year to $581.44 million, while adjusted earnings of $0.64 per share exceeded the $0.19 consensus estimate. However, this information was previously reported and may already be reflected in the stock’s valuation.
• Negative Sentiment: Major shareholder ISQ Global Fund II GP LLC sold 310,691 shares between August 10 and August 12 for approximately $16.0 million. The repeated sales reduce the fund’s position and could pressure the stock by adding share supply or raising concerns about near-term insider conviction. SEC shareholder transaction filing
• Negative Sentiment: Director Deborah L. Byers sold 2,739 shares at an average price of $51.51, reducing her holdings by about 10%. The sale is relatively modest but adds to the recent pattern of insider disposals. SEC director transaction filing

Institutional Trading of Kinetik

Institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC raised its position in shares of Kinetik by 89.8% during the 4th quarter. CWM LLC now owns 744 shares of the company’s stock worth $27,000 after purchasing an additional 352 shares during the last quarter. Signaturefd LLC increased its position in Kinetik by 101.5% during the fourth 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. Kestra Advisory Services LLC acquired a new position in shares of Kinetik in the fourth quarter worth $33,000. Los Angeles Capital Management LLC acquired a new position in shares of Kinetik in the fourth quarter worth $40,000. Finally, Huntington National Bank lifted its position in shares of Kinetik by 139.1% in the fourth quarter. Huntington National Bank now owns 1,222 shares of the company’s stock valued at $44,000 after acquiring an additional 711 shares in the last quarter. Hedge funds and other institutional investors own 21.11% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on KNTK shares. Wells Fargo & Company reiterated an “overweight” rating and issued a $54.00 price target on shares of Kinetik in a report on Monday. JPMorgan Chase & Co. boosted their price objective on shares of Kinetik from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Raymond James Financial restated an “outperform” rating and set a $55.00 target price on shares of Kinetik in a research report on Friday, August 7th. Tudor Pickering assumed coverage on shares of Kinetik in a research report on Monday, July 20th. They set a “buy” rating and a $57.00 price target for the company. Finally, Scotiabank reiterated an “outperform” rating and set a $52.00 price target (up from $51.00) on shares of Kinetik in a research report on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.87.

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.