200,000 Shares in Kinetik Holdings Inc. $KNTK Acquired by Yaupon Capital Management LP

Key Points

• Yaupon Capital Management LP acquired 200,000 shares of Kinetik Holdings Inc. worth approximately $10.4 million, representing a 0.13% ownership stake in the company.
• Kinetik's recent quarterly earnings report showed an EPS of $0.33, surpassing analysts' expectations of $0.14, although it reflected a decrease compared to the previous year's EPS of $0.54.
• The company declared a quarterly dividend of $0.78 per share, which translates to a 7.5% dividend yield, despite having a significantly high dividend payout ratio of 421.62%.

Yaupon Capital Management LP purchased a new position in Kinetik Holdings Inc. (NYSE:KNTK - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 200,000 shares of the company's stock, valued at approximately $10,388,000. Yaupon Capital Management LP owned 0.13% of Kinetik at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Bell Investment Advisors Inc bought a new position in shares of Kinetik in the first quarter worth approximately $41,000. Comerica Bank boosted its position in shares of 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 during the period. Nisa Investment Advisors LLC boosted its position in shares of 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 during the period. Rossby Financial LCC bought a new position in shares of Kinetik during the first quarter worth $78,000. Finally, KBC Group NV bought a new position in shares of Kinetik during the first quarter worth $95,000. 21.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on KNTK shares. Barclays dropped their target price on shares of Kinetik from $49.00 to $43.00 and set an "equal weight" rating for the company in a research report on Monday, July 14th. Mizuho set a $53.00 price target on shares of Kinetik and gave the company an "outperform" rating in a research note on Friday, August 29th. Royal Bank Of Canada decreased 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. Zacks Research raised shares of Kinetik from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Kinetik in a research note on Monday, September 8th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $54.67.

Kinetik Price Performance

Shares of KNTK traded up $0.54 during midday trading on Friday, hitting $43.79. The stock had a trading volume of 1,202,920 shares, compared to its average volume of 1,421,010. The firm has a market cap of $7.09 billion, a PE ratio of 59.18 and a beta of 3.16. Kinetik Holdings Inc. has a 1 year low of $39.25 and a 1 year high of $67.60. The stock's 50 day moving average is $41.74 and its 200 day moving average is $44.60.

Kinetik (NYSE:KNTK - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.14 by $0.19. Kinetik had a net margin of 8.21% and a negative return on equity of 6.16%. During the same period in the prior year, the firm posted $0.54 EPS. The firm's revenue was up 18.7% on a year-over-year basis.

Kinetik Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Friday, July 25th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 7.1%. The ex-dividend date was Friday, July 25th. Kinetik's dividend payout ratio is presently 421.62%.

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.