Deutsche Bank AG Acquires 126,603 Shares of Kinetik Holdings Inc. (NYSE:KNTK)

Key Points

• Deutsche Bank AG has significantly increased its holdings in Kinetik Holdings Inc. by 45.3% in the first quarter, now owning 405,882 shares valued at approximately $21 million.
• Strong investor interest is noted, with institutional ownership reaching 21.11%, as several firms like Comerica Bank and Sterling Capital Management LLC have also boosted their stakes in Kinetik recently.
• Kinetik's quarterly results showed a surprising earnings per share (EPS) of $0.33, beating expectations and signifying an 18.7% increase in revenue compared to the previous year.

Deutsche Bank AG increased its holdings in Kinetik Holdings Inc. (NYSE:KNTK - Free Report) by 45.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 405,882 shares of the company's stock after purchasing an additional 126,603 shares during the period. Deutsche Bank AG owned approximately 0.26% of Kinetik worth $21,082,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Comerica Bank boosted its holdings in Kinetik by 32.2% in the fourth quarter. Comerica Bank now owns 800 shares of the company's stock worth $45,000 after purchasing an additional 195 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in Kinetik by 789.4% in the fourth quarter. Sterling Capital Management LLC now owns 1,094 shares of the company's stock worth $62,000 after purchasing an additional 971 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Kinetik by 141.6% in the first quarter. Nisa Investment Advisors LLC now owns 1,133 shares of the company's stock worth $59,000 after purchasing an additional 664 shares in the last quarter. Rossby Financial LCC bought a new stake in Kinetik in the first quarter worth $78,000. Finally, KBC Group NV bought a new stake in Kinetik in the first quarter worth $95,000. 21.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

KNTK has been the subject of a number of recent research reports. Royal Bank Of Canada decreased their price objective on shares of Kinetik from $57.00 to $55.00 and set an "outperform" rating for the company in a report on Friday, May 30th. UBS Group started coverage on shares of Kinetik in a report on Tuesday, April 29th. They issued a "neutral" rating and a $49.00 price objective for the company. Citigroup reissued a "buy" rating on shares of Kinetik in a research report on Tuesday, June 10th. Mizuho cut their target price on shares of Kinetik from $61.00 to $57.00 and set an "outperform" rating for the company in a research report on Tuesday, July 15th. Finally, Scotiabank boosted their target price on shares of Kinetik from $54.00 to $57.00 and gave the stock a "sector outperform" rating in a research report on Thursday, June 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $55.56.

Insider Activity at Kinetik

In other news, major shareholder Isq Global Fund Ii Gp Llc sold 4,262,090 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $44.16, for a total transaction of $188,213,894.40. Following the completion of the transaction, the insider owned 1 shares of the company's stock, valued at approximately $44.16. This represents a 100.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.83% of the company's stock.

Kinetik Price Performance

Kinetik stock opened at $41.90 on Thursday. The firm has a fifty day moving average price of $42.61 and a two-hundred day moving average price of $47.82. The firm has a market cap of $6.62 billion, a price-to-earnings ratio of 56.62 and a beta of 3.03. Kinetik Holdings Inc. has a fifty-two week low of $39.33 and a fifty-two week high of $67.60.

Kinetik (NYSE:KNTK - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.19. Kinetik had a net margin of 8.21% and a negative return on equity of 6.16%. Kinetik's revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.54 earnings per share.

Kinetik Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Friday, July 25th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, July 25th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 7.4%. Kinetik's dividend payout ratio is currently 421.62%.

Kinetik Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.