Round Rock Advisors LLC boosted its position in Kinetik Holdings Inc. (NYSE:KNTK - Free Report) by 164.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 14,152 shares of the company's stock after purchasing an additional 8,807 shares during the period. Round Rock Advisors LLC's holdings in Kinetik were worth $735,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in KNTK. Comerica Bank grew its position 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 acquiring an additional 195 shares during the period. Sterling Capital Management LLC grew its position in shares of Kinetik by 789.4% during the 4th quarter. Sterling Capital Management LLC now owns 1,094 shares of the company's stock valued at $62,000 after acquiring an additional 971 shares during the period. Nisa Investment Advisors LLC grew its position 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 acquiring an additional 664 shares during the period. EverSource Wealth Advisors LLC bought a new position in shares of Kinetik during the 4th quarter valued at approximately $67,000. Finally, Rossby Financial LCC bought a new position in shares of Kinetik during the 1st quarter valued at approximately $78,000. 21.11% of the stock is owned by institutional investors.
Kinetik Stock Performance
NYSE KNTK traded down $0.03 on Friday, hitting $41.41. The stock had a trading volume of 1,390,229 shares, compared to its average volume of 1,126,074. Kinetik Holdings Inc. has a 52-week low of $37.85 and a 52-week high of $67.60. The company has a market capitalization of $6.54 billion, a price-to-earnings ratio of 43.59 and a beta of 3.00. The firm has a 50-day moving average of $43.69 and a 200-day moving average of $50.74.
Kinetik (NYSE:KNTK - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.24). Kinetik had a negative return on equity of 8.05% and a net margin of 10.74%. The firm had revenue of $443.26 million during the quarter, compared to analysts' expectations of $466.54 million. During the same quarter in the prior year, the company earned $0.12 earnings per share. The business's revenue for the quarter was up 29.8% compared to the same quarter last year.
Kinetik Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Friday, April 25th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 7.53%. The ex-dividend date of this dividend was Friday, April 25th. Kinetik's dividend payout ratio is presently 328.42%.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the stock. UBS Group assumed 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. Barclays set a $48.00 target price on shares of Kinetik and gave the company an "equal weight" rating in a research report on Tuesday, May 20th. Citigroup restated a "buy" rating on shares of Kinetik in a research note on Tuesday, June 10th. Mizuho dropped their price target on shares of Kinetik from $70.00 to $61.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 20th. Finally, Royal Bank Of Canada dropped their price target on shares of Kinetik from $57.00 to $55.00 and set an "outperform" rating on the stock in a research note on Friday, May 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $56.56.
Read Our Latest Report on Kinetik
Insider Transactions at Kinetik
In other news, major shareholder Isq Global Fund Ii Gp Llc sold 4,262,090 shares of the firm's stock in a transaction on 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 sale, the insider owned 1 shares in the company, valued at approximately $44.16. This trade represents a 100.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.83% of the stock is owned by corporate insiders.
Kinetik Profile
(
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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