Campbell & CO Investment Adviser LLC acquired a new stake in shares of Kinetik Holdings Inc. (NYSE:KNTK - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 23,904 shares of the company's stock, valued at approximately $1,242,000.
Other large investors also recently modified their holdings of the company. Comerica Bank raised its holdings in shares of Kinetik by 32.2% during the 4th quarter. Comerica Bank now owns 800 shares of the company's stock valued at $45,000 after buying an additional 195 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Kinetik by 141.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,133 shares of the company's stock valued at $59,000 after buying an additional 664 shares in the last quarter. Rossby Financial LCC purchased a new position in Kinetik in the 1st quarter worth approximately $78,000. KBC Group NV purchased a new position in Kinetik in the 1st quarter worth approximately $95,000. Finally, Covestor Ltd increased its stake in Kinetik by 4,129.6% in the 1st quarter. Covestor Ltd now owns 3,426 shares of the company's stock worth $178,000 after purchasing an additional 3,345 shares during the period. 21.11% of the stock is owned by hedge funds and other institutional investors.
Kinetik Trading Down 1.9%
Shares of KNTK stock traded down $0.81 during trading hours on Monday, reaching $41.96. The company's stock had a trading volume of 7,594,176 shares, compared to its average volume of 1,358,379. Kinetik Holdings Inc. has a one year low of $39.25 and a one year high of $67.60. The stock has a market capitalization of $6.79 billion, a P/E ratio of 56.70 and a beta of 3.16. The firm's fifty day simple moving average is $41.96 and its 200 day simple moving average is $45.72.
Kinetik (NYSE:KNTK - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.19. Kinetik had a negative return on equity of 6.16% and a net margin of 8.21%.During the same quarter last year, the firm earned $0.54 EPS. The firm's quarterly revenue was up 18.7% on a year-over-year basis.
Kinetik Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Friday, July 25th were given a dividend of $0.78 per share. The ex-dividend date was Friday, July 25th. This represents a $3.12 annualized dividend and a dividend yield of 7.4%. Kinetik's payout ratio is currently 421.62%.
Insider Buying and Selling at Kinetik
In related news, major shareholder Isq Global Fund Ii Gp Llc sold 4,262,090 shares of Kinetik stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $44.16, for a total transaction of $188,213,894.40. Following the sale, the insider directly owned 1 shares in the company, valued at $44.16. The trade was a 100.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.83% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of equities analysts have commented on the company. Zacks Research raised Kinetik from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. Scotiabank reaffirmed an "outperform" rating and issued a $55.00 price target on shares of Kinetik in a research note on Thursday, August 14th. Royal Bank Of Canada cut their price objective on Kinetik from $57.00 to $55.00 and set an "outperform" rating on the stock in a research report on Friday, May 30th. Barclays cut their price objective on Kinetik from $49.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Monday, July 14th. Finally, Wall Street Zen lowered Kinetik from a "hold" rating to a "sell" rating in a research report on Tuesday, June 17th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Kinetik has an average rating of "Moderate Buy" and an average target price of $54.89.
View Our Latest Analysis on KNTK
About Kinetik
(
Free Report)
Kinetik Holdings Inc operates as a midstream company in the Texas Delaware Basin. It provides gathering, transportation, compression, processing, and treating services for companies that produce natural gas, natural gas liquids, crude oil, and water. The company is headquartered in Midland, Texas.
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