Dimensional Fund Advisors LP Has $35.69 Million Stock Position in Kinetik Holdings Inc. (NASDAQ:KNTK)

Dimensional Fund Advisors LP raised its holdings in Kinetik Holdings Inc. (NASDAQ:KNTK - Free Report) by 7.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 629,326 shares of the company's stock after buying an additional 43,629 shares during the quarter. Dimensional Fund Advisors LP owned 0.40% of Kinetik worth $35,689,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC lifted its position in shares of Kinetik by 34.5% during the 3rd quarter. Barclays PLC now owns 234,286 shares of the company's stock valued at $10,603,000 after acquiring an additional 60,058 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Kinetik by 14,124.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 13,940 shares of the company's stock valued at $820,000 after purchasing an additional 13,842 shares during the period. Principal Financial Group Inc. bought a new position in shares of Kinetik during the 3rd quarter worth about $921,000. JPMorgan Chase & Co. boosted its position in shares of Kinetik by 53.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 157,858 shares of the company's stock worth $7,145,000 after purchasing an additional 55,050 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Kinetik by 12.5% in the 4th 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 during the period. 21.11% of the stock is currently owned by institutional investors.

Kinetik Stock Performance

Shares of KNTK stock opened at $41.46 on Monday. The company has a market capitalization of $6.54 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 1.52 and a beta of 2.68. Kinetik Holdings Inc. has a 52-week low of $37.85 and a 52-week high of $67.60. The company has a 50-day simple moving average of $48.40 and a two-hundred day simple moving average of $54.87.

Kinetik Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Friday, April 25th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 7.53%. The ex-dividend date was Friday, April 25th. Kinetik's payout ratio is 305.88%.

Wall Street Analyst Weigh In

KNTK has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price target on Kinetik from $63.00 to $65.00 and gave the stock an "overweight" rating in a report on Wednesday, January 15th. Barclays lifted their price target on shares of Kinetik from $57.00 to $58.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 16th. Royal Bank of Canada decreased their price target on shares of Kinetik from $67.00 to $63.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. Wells Fargo & Company dropped their price objective on shares of Kinetik from $60.00 to $58.00 and set an "equal weight" rating on the stock in a research note on Friday, February 28th. Finally, UBS Group began coverage on shares of Kinetik in a research report on Tuesday, April 29th. They set a "neutral" rating and a $49.00 target price for the company. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $58.56.

Insiders Place Their Bets

In other Kinetik news, major shareholder Isq Global Fund Ii Gp Llc sold 1,044,519 shares of Kinetik stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $52.66, for a total value of $55,004,370.54. Following the sale, the insider now owns 657,583 shares of the company's stock, valued at approximately $34,628,320.78. The trade was a 61.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.83% of the company's stock.

Kinetik 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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