Isq Global Fund Ii Gp Llc Sells 1,025 Shares of Kinetik (NYSE:KNTK) Stock

Key Points

• Isq Global Fund II GP LLC sold 1,025 Kinetik shares at an average price of $55.15, generating $56,528.75; it retained 727,303 shares worth approximately $40.1 million.
• The shareholder has made multiple recent sales, including more than 58,000 shares on September 8 and 76,260 shares on August 26, indicating a broader reduction in its Kinetik position.
• Kinetik reported quarterly EPS of $0.64, well above the $0.19 consensus estimate, while revenue rose 36.3% year over year to $581.44 million; analysts maintain a “Moderate Buy” consensus with a $54 target price.

Kinetik Holdings Inc. (NYSE:KNTK - Get Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 1,025 shares of the firm's stock in a transaction on Monday, September 14th. The shares were sold at an average price of $55.15, for a total value of $56,528.75. Following the sale, the insider directly owned 727,303 shares of the company's stock, valued at $40,110,760.45. This represents a 0.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.

Isq Global Fund Ii Gp Llc also recently made the following trade(s):

• On Wednesday, September 16th, Isq Global Fund Ii Gp Llc sold 8,772 shares of Kinetik stock. The stock was sold at an average price of $55.06, for a total transaction of $482,986.32.
• On Tuesday, September 15th, Isq Global Fund Ii Gp Llc sold 4,686 shares of Kinetik stock. The shares were sold at an average price of $55.11, for a total transaction of $258,245.46.
• On Thursday, September 10th, Isq Global Fund Ii Gp Llc sold 5,840 shares of Kinetik stock. The stock was sold at an average price of $55.39, for a total transaction of $323,477.60.
• On Wednesday, September 9th, Isq Global Fund Ii Gp Llc sold 4,585 shares of Kinetik stock. The stock was sold at an average price of $55.19, for a total transaction of $253,046.15.
• On Tuesday, September 8th, Isq Global Fund Ii Gp Llc sold 58,383 shares of Kinetik stock. The shares were sold at an average price of $55.14, for a total transaction of $3,219,238.62.
• On Tuesday, September 1st, Isq Global Fund Ii Gp Llc sold 45,428 shares of Kinetik stock. The shares were sold at an average price of $55.06, for a total transaction of $2,501,265.68.
• On Wednesday, August 26th, Isq Global Fund Ii Gp Llc sold 76,260 shares of Kinetik stock. The stock was sold at an average price of $55.28, for a total transaction of $4,215,652.80.
• On Friday, August 21st, Isq Global Fund Ii Gp Llc sold 6,963 shares of Kinetik stock. The stock was sold at an average price of $55.17, for a total transaction of $384,148.71.
• On Tuesday, August 18th, Isq Global Fund Ii Gp Llc sold 64,898 shares of Kinetik stock. The shares were sold at an average price of $54.32, for a total value of $3,525,259.36.
• On Thursday, August 20th, Isq Global Fund Ii Gp Llc sold 3,107 shares of Kinetik stock. The stock was sold at an average price of $55.07, for a total value of $171,102.49.

Kinetik Price Performance

NYSE KNTK traded down $0.83 on Wednesday, reaching $53.87. The stock had a trading volume of 1,568,378 shares, compared to its average volume of 1,002,639. The firm has a fifty day moving average of $52.17 and a two-hundred day moving average of $49.06. The company has a market cap of $8.75 billion, a P/E ratio of 19.52, a price-to-earnings-growth ratio of 1.35 and a beta of 0.57. Kinetik Holdings Inc. has a 1-year low of $31.33 and a 1-year high of $56.92.

Kinetik (NYSE:KNTK - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.19 by $0.45. The firm had revenue of $581.44 million for the quarter, compared to analyst estimates of $421.48 million. Kinetik had a net margin of 26.19% and a negative return on equity of 38.96%. The business's quarterly revenue was up 36.3% compared to the same quarter last year. During the same period last year, the firm earned $0.33 EPS. Research analysts predict that Kinetik Holdings Inc. will post 1.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Kinetik from $54.00 to $57.00 and gave the company an "overweight" rating in a research note on Tuesday, July 14th. Jefferies Financial Group restated a "hold" rating and set a $56.00 target price on shares of Kinetik in a research note on Wednesday, September 9th. Zacks Research downgraded Kinetik from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 25th. Scotiabank reiterated an "outperform" rating and issued a $58.00 price target (up from $52.00) on shares of Kinetik in a research note on Thursday, September 10th. Finally, Clear Str cut Kinetik from a "strong-buy" rating to a "hold" rating in a report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $54.00.

Institutional Trading of Kinetik

A number of hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP increased its position in Kinetik by 72.4% during the 2nd quarter. Allworth Financial LP now owns 569 shares of the company's stock valued at $28,000 after purchasing an additional 239 shares during the period. Huntington National Bank raised its position in shares of Kinetik by 139.1% in the 4th quarter. Huntington National Bank now owns 1,222 shares of the company's stock worth $44,000 after acquiring an additional 711 shares in the last quarter. SBI Okasan Asset Management Co.Ltd. bought a new stake in shares of Kinetik during the 4th quarter valued at about $47,000. Integrated Wealth Concepts LLC acquired a new stake in Kinetik during the second quarter worth approximately $71,000. Finally, Hantz Financial Services Inc. lifted its stake in Kinetik by 481.7% in the fourth quarter. Hantz Financial Services Inc. now owns 1,943 shares of the company's stock valued at $70,000 after buying an additional 1,609 shares during the period. Institutional investors and hedge funds own 21.11% of the company's stock.

About Kinetik

Kinetik Holdings Inc NYSE: KNTK is a midstream energy company that provides gathering, processing, transportation and logistics services for oil and natural gas producers. The company's operations are focused primarily on the Delaware Basin, a major producing region within the Permian Basin of West Texas and southeastern New Mexico.

Kinetik's services include natural gas gathering and processing, natural gas liquids transportation and handling, crude oil logistics, and long-haul natural gas transportation.

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