Isq Global Fund Ii Gp Llc Sells 1,025 Shares of Kinetik (NYSE:KNTK) Stock

Kinetik Holdings Inc. (NYSE:KNTK) major shareholder Isq Global Fund Ii Gp Llc sold 1,025 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $55.15, for a total transaction of $56,528.75. Following the transaction, the insider directly owned 727,303 shares of the company’s stock, valued at $40,110,760.45. This represents a 0.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 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, September 16th, Isq Global Fund Ii Gp Llc sold 8,772 shares of Kinetik stock. The stock was sold at an average price of $55.06, for a total transaction of $482,986.32.
• On Tuesday, September 15th, Isq Global Fund Ii Gp Llc sold 4,686 shares of Kinetik stock. The stock was sold at an average price of $55.11, for a total transaction of $258,245.46.
• On Thursday, September 10th, Isq Global Fund Ii Gp Llc sold 5,840 shares of Kinetik stock. The shares were sold at an average price of $55.39, for a total transaction of $323,477.60.
• On Wednesday, September 9th, Isq Global Fund Ii Gp Llc sold 4,585 shares of Kinetik stock. The stock was sold at an average price of $55.19, for a total transaction of $253,046.15.
• On Tuesday, September 8th, Isq Global Fund Ii Gp Llc sold 58,383 shares of Kinetik stock. The stock was sold at an average price of $55.14, for a total transaction of $3,219,238.62.
• On Tuesday, September 1st, Isq Global Fund Ii Gp Llc sold 45,428 shares of Kinetik stock. The shares were sold at an average price of $55.06, for a total transaction of $2,501,265.68.
• On Wednesday, August 26th, Isq Global Fund Ii Gp Llc sold 76,260 shares of Kinetik stock. The shares were sold at an average price of $55.28, for a total transaction 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 transaction of $384,148.71.
• On Tuesday, August 18th, Isq Global Fund Ii Gp Llc sold 64,898 shares of Kinetik stock. The stock was sold at an average price of $54.32, for a total transaction of $3,525,259.36.
• On Thursday, August 20th, Isq Global Fund Ii Gp Llc sold 3,107 shares of Kinetik stock. The shares were sold at an average price of $55.07, for a total transaction of $171,102.49.

Kinetik Price Performance

NYSE:KNTK opened at $53.76 on Friday. Kinetik Holdings Inc. has a 1 year low of $31.33 and a 1 year high of $56.92. The stock’s fifty day moving average price is $52.28 and its two-hundred day moving average price is $49.12. The company has a market cap of $8.73 billion, a P/E ratio of 19.48, a P/E/G ratio of 1.33 and a beta of 0.57.

Kinetik (NYSE:KNTK) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.45. Kinetik had a negative return on equity of 38.96% and a net margin of 26.19%.The company had revenue of $581.44 million during the quarter, compared to analysts’ expectations of $421.48 million. During the same period in the previous year, the business earned $0.33 earnings per share. The firm’s quarterly revenue was up 36.3% compared to the same quarter last year. On average, analysts expect that Kinetik Holdings Inc. will post 1.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on KNTK. Wall Street Zen upgraded Kinetik from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 8th. Wells Fargo & Company reissued an “overweight” rating and issued a $54.00 price target on shares of Kinetik in a report on Monday, August 10th. Tudor Pickering began coverage on shares of Kinetik in a research report on Monday, July 20th. They issued a “buy” rating and a $57.00 price objective for the company. Scotiabank reaffirmed an “outperform” rating and set a $58.00 price objective (up from $52.00) on shares of Kinetik in a research note on Thursday, September 10th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $57.00 target price (up from $56.00) on shares of Kinetik in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Kinetik currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

Hedge Funds Weigh In On Kinetik

Institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC raised its holdings in shares of Kinetik by 19.8% in the 2nd quarter. Tidal Investments LLC now owns 29,777 shares of the company’s stock valued at $1,439,000 after acquiring an additional 4,930 shares in the last quarter. Engineers Gate Manager LP purchased a new position in shares of Kinetik during the second quarter worth about $259,000. Integrated Wealth Concepts LLC bought a new position in shares of Kinetik in the second quarter worth approximately $71,000. NewEdge Advisors LLC increased its position in shares of Kinetik by 12.9% in the second quarter. NewEdge Advisors LLC now owns 46,187 shares of the company’s stock worth $2,233,000 after purchasing an additional 5,269 shares during the last quarter. Finally, IFP Advisors Inc raised its stake in Kinetik by 28.3% in the second quarter. IFP Advisors Inc now owns 3,101 shares of the company’s stock valued at $150,000 after purchasing an additional 684 shares in the last quarter. 21.11% of the stock is currently owned by institutional investors.

Kinetik Company Profile

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.