6,997 Shares in Kinetik Holdings Inc. (NASDAQ:KNTK) Purchased by Numerai GP LLC

Numerai GP LLC bought a new position in shares of Kinetik Holdings Inc. (NASDAQ:KNTK - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,997 shares of the company's stock, valued at approximately $397,000.

A number of other hedge funds have also bought and sold shares of KNTK. OMERS ADMINISTRATION Corp bought a new stake in Kinetik in the fourth quarter valued at $516,000. Millennium Management LLC boosted its stake in Kinetik by 97.6% in the fourth quarter. Millennium Management LLC now owns 70,227 shares of the company's stock valued at $3,983,000 after acquiring an additional 34,679 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Kinetik by 5.3% in the fourth quarter. Janus Henderson Group PLC now owns 53,046 shares of the company's stock valued at $3,009,000 after acquiring an additional 2,686 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new stake in shares of Kinetik in the fourth quarter valued at approximately $1,674,000. Finally, Deutsche Bank AG raised its position in shares of Kinetik by 106.8% in the fourth quarter. Deutsche Bank AG now owns 279,279 shares of the company's stock valued at $15,838,000 after purchasing an additional 144,226 shares during the period. Institutional investors own 21.11% of the company's stock.

Analysts Set New Price Targets

KNTK has been the topic of a number of analyst reports. Barclays upped their target price on shares of Kinetik from $57.00 to $58.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 16th. UBS Group initiated coverage on shares of Kinetik in a report on Tuesday, April 29th. They set a "neutral" rating and a $49.00 target price on the stock. Scotiabank decreased their target price on shares of Kinetik from $57.00 to $54.00 and set a "sector outperform" rating on the stock in a report on Monday, May 12th. US Capital Advisors raised shares of Kinetik from a "hold" rating to a "moderate buy" rating in a report on Monday, April 7th. Finally, Royal Bank of Canada decreased their target price on shares of Kinetik from $67.00 to $63.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Kinetik has a consensus rating of "Moderate Buy" and an average price target of $57.89.

Kinetik Price Performance

KNTK stock traded down $0.47 during midday trading on Monday, reaching $44.89. The company had a trading volume of 779,196 shares, compared to its average volume of 659,796. Kinetik Holdings Inc. has a 1 year low of $37.85 and a 1 year high of $67.60. The company has a market capitalization of $7.08 billion, a P/E ratio of 16.56, a P/E/G ratio of 1.52 and a beta of 3.03. The firm has a 50-day moving average price of $46.19 and a 200-day moving average price of $54.40.

Kinetik (NASDAQ:KNTK - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.29 by ($0.24). Kinetik had a net margin of 30.25% and a negative return on equity of 39.48%. The business had revenue of $443.26 million during the quarter, compared to analysts' expectations of $466.54 million. During the same period last year, the company posted $0.12 EPS. Kinetik's revenue for the quarter was up 29.8% on a year-over-year basis. On average, equities analysts predict that Kinetik Holdings Inc. will post 1.96 EPS for the current year.

Kinetik Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Friday, April 25th were paid a $0.78 dividend. The ex-dividend date was Friday, April 25th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.95%. Kinetik's dividend payout ratio (DPR) is 328.42%.

Insider Activity

In other Kinetik news, major shareholder Isq Global Fund Ii Gp Llc sold 1,044,519 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $52.66, for a total transaction of $55,004,370.54. Following the completion of the sale, the insider now owns 657,583 shares of the company's stock, valued at $34,628,320.78. This represents a 61.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.83% of the stock is owned by corporate insiders.

Kinetik Company Profile

Kinetik Holdings Inc operates as a midstream company in the Texas Delaware Basin. The company operates through two segments, Midstream Logistics and Pipeline Transportation. It provides gathering, transportation, compression, processing, stabilization, treating, storage, and transportation services for companies that produce natural gas, natural gas liquids, and crude oil; and water gathering and disposal services.