Isq Global Fund Ii Gp Llc Sells 5,840 Shares of Kinetik (NYSE:KNTK) Stock

by · The Markets Daily

Kinetik Holdings Inc. (NYSE:KNTK – Get Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 5,840 shares of the stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $55.39, for a total transaction of $323,477.60. Following the completion of the sale, the insider directly owned 728,328 shares in the company, valued at $40,342,087.92. This trade represents a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 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 Wednesday, September 9th, Isq Global Fund Ii Gp Llc sold 4,585 shares of Kinetik stock. The shares were 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.
  • On Tuesday, September 1st, Isq Global Fund Ii Gp Llc sold 45,428 shares of Kinetik stock. The stock was sold at an average price of $55.06, for a total value of $2,501,265.68.
  • On Wednesday, August 26th, Isq Global Fund Ii Gp Llc sold 76,260 shares of Kinetik stock. The stock was sold at an average price of $55.28, for a total value 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 value of $384,148.71.
  • On Tuesday, August 18th, Isq Global Fund Ii Gp Llc sold 64,898 shares of Kinetik stock. The shares were sold at an average price of $54.32, for a total value 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 value of $171,102.49.
  • On Monday, August 17th, Isq Global Fund Ii Gp Llc sold 135,102 shares of Kinetik stock. The stock was sold at an average price of $52.78, for a total value of $7,130,683.56.
  • On Friday, August 14th, Isq Global Fund Ii Gp Llc sold 112,160 shares of Kinetik stock. The stock was sold at an average price of $53.48, for a total value of $5,998,316.80.
  • On Thursday, August 13th, Isq Global Fund Ii Gp Llc sold 113,075 shares of Kinetik stock. The stock was sold at an average price of $51.60, for a total value of $5,834,670.00.

Kinetik Trading Up 1.2%

Shares of KNTK opened at $54.84 on Friday. The firm has a market capitalization of $8.90 billion, a P/E ratio of 19.87, a P/E/G ratio of 1.34 and a beta of 0.57. Kinetik Holdings Inc. has a 12-month low of $31.33 and a 12-month high of $56.92. The firm has a fifty day moving average price of $51.83 and a 200-day moving average price of $48.84.

Kinetik (NYSE:KNTK – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.45. The firm had revenue of $581.44 million for the quarter, compared to analysts’ expectations of $421.48 million. Kinetik had a net margin of 26.19% and a negative return on equity of 38.96%. The business’s revenue for the quarter was up 36.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 earnings per share. Analysts predict that Kinetik Holdings Inc. will post 1.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on KNTK shares. JPMorgan Chase & Co. raised their target price on shares of Kinetik from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Barclays set a $51.00 price objective on Kinetik and gave the stock an “equal weight” rating in a research note on Thursday, August 6th. Wall Street Zen upgraded Kinetik from a “strong sell” rating to a “hold” rating in a report on Saturday, August 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $57.00 target price (up from $56.00) on shares of Kinetik in a research report on Tuesday, August 11th. Finally, Zacks Research cut Kinetik from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. One 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.00.

View Our Latest Analysis on KNTK

Institutional Investors Weigh In On Kinetik

Several large investors have recently modified their holdings of the business. Tidal Investments LLC lifted its position in shares of Kinetik by 19.8% in 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 during the period. Engineers Gate Manager LP purchased a new position in Kinetik during the second quarter valued at approximately $259,000. Integrated Wealth Concepts LLC bought a new position in Kinetik in the second quarter worth approximately $71,000. NewEdge Advisors LLC raised its stake in 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 buying an additional 5,269 shares in the last quarter. Finally, IFP Advisors Inc lifted its holdings in Kinetik by 28.3% during the second quarter. IFP Advisors Inc now owns 3,101 shares of the company’s stock worth $150,000 after buying an additional 684 shares during the period. Institutional investors 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.

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