15,285 Shares in Kinetik Holdings Inc. (NYSE:KNTK) Bought by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC acquired a new position in shares of Kinetik Holdings Inc. (NYSE:KNTK - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 15,285 shares of the company's stock, valued at approximately $867,000.

Other institutional investors also recently bought and sold shares of the company. Fifth Third Bancorp purchased a new position in shares of Kinetik during the 4th quarter worth approximately $26,000. Canton Hathaway LLC acquired a new stake in Kinetik during the 4th quarter valued at $28,000. Rialto Wealth Management LLC purchased a new position in Kinetik during the fourth quarter worth $34,000. Comerica Bank increased its position in Kinetik by 32.2% during the fourth quarter. Comerica Bank now owns 800 shares of the company's stock worth $45,000 after buying an additional 195 shares in the last quarter. Finally, Sterling Capital Management LLC raised its holdings in shares of 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 acquiring an additional 971 shares during the last quarter. 21.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Kinetik

In other news, major shareholder Isq Global Fund Ii Gp Llc sold 3,952,431 shares of Kinetik stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $55.63, for a total transaction of $219,873,736.53. Following the sale, the insider now owns 1,044,520 shares in the company, valued at $58,106,647.60. This trade represents a 79.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.83% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Scotiabank decreased their price objective on Kinetik from $57.00 to $54.00 and set a "sector outperform" rating on the stock in a research note on Monday, May 12th. Mizuho decreased 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. Royal Bank of Canada lowered their price target on shares of Kinetik from $67.00 to $63.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. US Capital Advisors upgraded shares of Kinetik from a "hold" rating to a "moderate buy" rating in a research report on Monday, April 7th. Finally, Wells Fargo & Company lowered their target price on shares of Kinetik from $60.00 to $58.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Kinetik presently has a consensus rating of "Moderate Buy" and an average price target of $57.11.

Kinetik Stock Up 1.0%

NYSE KNTK traded up $0.43 during mid-day trading on Monday, hitting $44.84. The company's stock had a trading volume of 764,631 shares. The company has a 50-day moving average price of $45.40 and a two-hundred day moving average price of $54.18. The stock has a market cap of $7.07 billion, a price-to-earnings ratio of 47.20 and a beta of 3.03.

Kinetik (NYSE:KNTK - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.24). The firm had revenue of $443.26 million for the quarter, compared to analyst estimates of $466.54 million. The company's revenue for the quarter was up 29.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.12 earnings per share.

Kinetik Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Friday, April 25th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.96%. The ex-dividend date of this dividend was Friday, April 25th. Kinetik's dividend payout ratio is presently 328.42%.

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.