95,000 Shares in Kinetik Holdings Inc. (NYSE:KNTK) Acquired by Tiptree Advisors LLC

Tiptree Advisors LLC purchased a new position in Kinetik Holdings Inc. (NYSE:KNTK - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 95,000 shares of the company's stock, valued at approximately $5,387,000. Kinetik accounts for approximately 5.6% of Tiptree Advisors LLC's investment portfolio, making the stock its 6th biggest position. Tiptree Advisors LLC owned about 0.06% of Kinetik as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Barclays PLC increased its stake in Kinetik by 34.5% in the 3rd quarter. Barclays PLC now owns 234,286 shares of the company's stock valued at $10,603,000 after buying an additional 60,058 shares during the last quarter. Ballentine Partners LLC purchased a new position in Kinetik in the 4th quarter valued at approximately $212,000. Janney Montgomery Scott LLC boosted its holdings in Kinetik by 69.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 132,977 shares of the company's stock valued at $7,541,000 after purchasing an additional 54,370 shares during the period. Fifth Third Bancorp bought a new stake in shares of Kinetik during the 4th quarter worth $26,000. Finally, Blue Trust Inc. lifted its holdings in shares of Kinetik by 18.1% during the 4th quarter. Blue Trust Inc. now owns 4,488 shares of the company's stock worth $255,000 after acquiring an additional 687 shares during the last quarter. 21.11% of the stock is owned by institutional investors.

Insider Activity at Kinetik

In other news, major shareholder Isq Global Fund Ii Gp Llc sold 1,044,519 shares of the firm's 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 transaction, the insider now directly owns 657,583 shares of the company's stock, valued at approximately $34,628,320.78. This trade represents a 61.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 3.83% of the stock is owned by company insiders.

Analysts Set New Price Targets

KNTK has been the subject of several recent analyst reports. Mizuho lowered their price objective on shares of Kinetik from $70.00 to $61.00 and set an "outperform" rating for the company in a research note on Tuesday, May 20th. Barclays set a $48.00 price objective on shares of Kinetik and gave the company an "equal weight" rating in a research report on Tuesday, May 20th. Royal Bank of Canada decreased their price objective on shares of Kinetik from $67.00 to $63.00 and set an "outperform" rating on the stock in a research 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, 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 target on the stock. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $57.11.

Kinetik Stock Down 0.8%

NYSE:KNTK traded down $0.35 during mid-day trading on Thursday, hitting $45.21. 669,218 shares of the stock traded hands, compared to its average volume of 924,095. The stock has a market capitalization of $7.13 billion, a price-to-earnings ratio of 47.59 and a beta of 3.03. Kinetik Holdings Inc. has a 52 week low of $37.85 and a 52 week high of $67.60. The firm's 50 day moving average is $44.92 and its two-hundred day moving average is $53.98.

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

Kinetik Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Friday, April 25th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, April 25th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.90%. Kinetik's payout ratio is currently 328.42%.

Kinetik 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.