Kinetik (NYSE:KNTK) Stock: Insider Isq Global Fund Ii Gp Llc Sells 24,194 Shares

by · The Markets Daily

Kinetik Holdings Inc. (NYSE:KNTK – Get Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 24,194 shares of the business’s stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $53.55, for a total transaction of $1,295,588.70. Following the transaction, the insider owned 384,142 shares in the company, valued at approximately $20,570,804.10. This trade represents a 5.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 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 transaction 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 value 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 value of $7,328,307.00.
  • On Thursday, September 17th, Isq Global Fund Ii Gp Llc sold 108,977 shares of Kinetik stock. The stock was sold at an average price of $53.84, for a total value of $5,867,321.68.
  • On Wednesday, September 16th, Isq Global Fund Ii Gp Llc sold 8,772 shares of Kinetik stock. The shares were sold at an average price of $55.06, for a total value of $482,986.32.
  • On Tuesday, September 15th, Isq Global Fund Ii Gp Llc sold 4,686 shares of Kinetik stock. The shares were sold at an average price of $55.11, for a total value of $258,245.46.
  • On Monday, September 14th, Isq Global Fund Ii Gp Llc sold 1,025 shares of Kinetik stock. The shares were sold at an average price of $55.15, for a total value of $56,528.75.
  • On Thursday, September 10th, Isq Global Fund Ii Gp Llc sold 5,840 shares of Kinetik stock. The stock was sold at an average price of $55.39, for a total value 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 value of $253,046.15.
  • On Tuesday, September 8th, Isq Global Fund Ii Gp Llc sold 58,383 shares of Kinetik stock. The shares were sold at an average price of $55.14, for a total value of $3,219,238.62.

Kinetik Price Performance

Shares of NYSE KNTK traded down $0.63 during trading on Thursday, hitting $52.29. 961,975 shares of the company were exchanged, compared to its average volume of 1,178,283. The company has a market cap of $8.49 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 1.29 and a beta of 0.57. Kinetik Holdings Inc. has a 1 year low of $31.33 and a 1 year high of $56.92. The firm’s fifty day moving average price is $52.57 and its 200 day moving average price is $49.32.

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 for the quarter, compared to analysts’ expectations of $421.48 million. During the same period in the prior year, the company posted $0.33 EPS. The business’s revenue for the quarter was up 36.3% on a year-over-year basis. On average, research analysts forecast that Kinetik Holdings Inc. will post 1.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KNTK. Barclays set a $51.00 price target on Kinetik and gave the stock an “equal weight” rating in a report on Thursday, August 6th. Raymond James Financial reissued an “outperform” rating and issued a $55.00 target price on shares of Kinetik in a report on Friday, August 7th. US Capital Advisors raised Kinetik from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, May 29th. Morgan Stanley reiterated an “overweight” rating and issued a $70.00 price objective (up from $64.00) on shares of Kinetik in a research report on Tuesday, August 18th. Finally, Truist Financial increased their price objective on shares of Kinetik from $53.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

View Our Latest Analysis on Kinetik

Institutional Investors Weigh In On Kinetik

Large investors have recently bought and sold shares of the stock. Tidal Investments LLC increased its position in Kinetik by 19.8% during the 2nd quarter. Tidal Investments LLC now owns 29,777 shares of the company’s stock worth $1,439,000 after purchasing an additional 4,930 shares in the last quarter. Engineers Gate Manager LP purchased a new position in Kinetik in the 2nd quarter valued at about $259,000. Integrated Wealth Concepts LLC purchased a new position in Kinetik in the 2nd quarter valued at about $71,000. NewEdge Advisors LLC boosted its stake in shares of Kinetik by 12.9% during the 2nd 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 boosted its stake in shares of Kinetik by 28.3% during the 2nd quarter. IFP Advisors Inc now owns 3,101 shares of the company’s stock worth $150,000 after purchasing an additional 684 shares during the last quarter. Institutional investors and hedge funds own 21.11% of the company’s stock.

About Kinetik

(Get Free Report)

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.

See Also