Brevan Howard Capital Management LP Grows Holdings in Kinetik Holdings Inc. (NASDAQ:KNTK)

Brevan Howard Capital Management LP lifted its holdings in shares of Kinetik Holdings Inc. (NASDAQ:KNTK - Free Report) by 256.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,630 shares of the company's stock after purchasing an additional 22,753 shares during the quarter. Brevan Howard Capital Management LP's holdings in Kinetik were worth $1,794,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in KNTK. Barclays PLC increased its position in Kinetik by 34.5% during the third quarter. Barclays PLC now owns 234,286 shares of the company's stock worth $10,603,000 after purchasing an additional 60,058 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Kinetik by 14,124.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,940 shares of the company's stock worth $820,000 after purchasing an additional 13,842 shares during the period. JPMorgan Chase & Co. raised its holdings in Kinetik by 53.5% in the third quarter. JPMorgan Chase & Co. now owns 157,858 shares of the company's stock valued at $7,145,000 after buying an additional 55,050 shares during the period. Bank of New York Mellon Corp lifted its position in Kinetik by 12.5% during the fourth quarter. Bank of New York Mellon Corp now owns 488,011 shares of the company's stock valued at $27,675,000 after buying an additional 54,081 shares in the last quarter. Finally, Jump Financial LLC grew its stake in Kinetik by 73.8% during the fourth quarter. Jump Financial LLC now owns 41,880 shares of the company's stock worth $2,375,000 after buying an additional 17,778 shares during the period. 21.11% of the stock is owned by institutional investors and hedge funds.

Kinetik Price Performance

KNTK opened at $40.58 on Wednesday. Kinetik Holdings Inc. has a 12-month low of $37.85 and a 12-month high of $67.60. The stock has a market capitalization of $6.40 billion, a PE ratio of 14.97, a P/E/G ratio of 1.52 and a beta of 3.03. The firm's fifty day moving average price is $47.73 and its 200 day moving average price is $54.70.

Kinetik Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Friday, April 25th were given a dividend of $0.78 per share. The ex-dividend date was Friday, April 25th. This represents a $3.12 annualized dividend and a dividend yield of 7.69%. Kinetik's payout ratio is 305.88%.

Insider Buying and Selling

In related news, major shareholder Isq Global Fund Ii Gp Llc sold 1,044,519 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $52.66, for a total transaction of $55,004,370.54. Following the transaction, the insider now directly owns 657,583 shares in the company, valued at $34,628,320.78. This trade represents a 61.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.83% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on KNTK shares. US Capital Advisors upgraded shares of Kinetik from a "hold" rating to a "moderate buy" rating in a report on Monday, April 7th. UBS Group assumed coverage on Kinetik in a research note on Tuesday, April 29th. They set a "neutral" rating and a $49.00 price objective on the stock. Royal Bank of Canada lowered their target price on Kinetik from $67.00 to $63.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. JPMorgan Chase & Co. boosted their price target on Kinetik from $63.00 to $65.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 15th. Finally, Wells Fargo & Company lowered their price objective on shares of Kinetik from $60.00 to $58.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Kinetik has an average rating of "Moderate Buy" and a consensus price target of $58.56.

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.

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