Isq Global Fund Ii Gp Llc Sells 4,585 Shares of Kinetik (NYSE:KNTK) Stock

Key Points

• Major shareholder Isq Global Fund II GP LLC sold 4,585 Kinetik shares at an average price of $55.19, generating $253,046.15. The sale reduced its position by 0.62%, leaving it with 734,168 shares valued at roughly $40.5 million.
• The transaction follows a series of substantial Kinetik stock sales by the shareholder, totaling hundreds of thousands of shares since mid-August and signaling continued insider selling.
• Kinetik recently reported strong quarterly results, with revenue up 36.3% year over year to $581.4 million and EPS of $0.64 versus the $0.19 consensus estimate. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $54.00.

Kinetik Holdings Inc. (NYSE:KNTK - Get Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 4,585 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $55.19, for a total value of $253,046.15. Following the completion of the transaction, the insider directly owned 734,168 shares in the company, valued at $40,518,731.92. This trade represents a 0.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

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

• 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 value of $323,477.60.
• 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 value of $3,219,238.62.
• On Tuesday, September 1st, Isq Global Fund Ii Gp Llc sold 45,428 shares of Kinetik stock. The stock was sold at an average price of $55.06, for a total value 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 value of $4,215,652.80.
• On Friday, August 21st, Isq Global Fund Ii Gp Llc sold 6,963 shares of Kinetik stock. The shares were sold at an average price of $55.17, for a total value of $384,148.71.
• On Tuesday, August 18th, Isq Global Fund Ii Gp Llc sold 64,898 shares of Kinetik stock. The stock was sold at an average price of $54.32, for a total transaction 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 transaction of $171,102.49.
• On Monday, August 17th, Isq Global Fund Ii Gp Llc sold 135,102 shares of Kinetik stock. The shares were sold at an average price of $52.78, for a total transaction of $7,130,683.56.
• On Friday, August 14th, Isq Global Fund Ii Gp Llc sold 112,160 shares of Kinetik stock. The shares were sold at an average price of $53.48, for a total value of $5,998,316.80.
• On Thursday, August 13th, Isq Global Fund Ii Gp Llc sold 113,075 shares of Kinetik stock. The stock was sold at an average price of $51.60, for a total value of $5,834,670.00.

Kinetik Price Performance

Shares of KNTK stock traded down $0.27 during trading hours on Thursday, hitting $54.28. The stock had a trading volume of 1,660,324 shares, compared to its average volume of 919,753. The stock's 50 day moving average is $51.68 and its 200 day moving average is $48.79. The firm has a market capitalization of $8.81 billion, a PE ratio of 18.43, a PEG ratio of 1.35 and a beta of 0.57. Kinetik Holdings Inc. has a twelve month low of $31.33 and a twelve month high of $56.92.

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on KNTK shares. JPMorgan Chase & Co. raised their price target on Kinetik from $54.00 to $57.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 14th. Wells Fargo & Company restated an "overweight" rating and set a $54.00 price target on shares of Kinetik in a research note on Monday, August 10th. Zacks Research cut Kinetik from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 25th. Raymond James Financial reaffirmed an "outperform" rating and set a $55.00 price target on shares of Kinetik in a research report on Friday, August 7th. Finally, Truist Financial increased their price objective on shares of Kinetik from $53.00 to $59.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. One 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, the stock has an average rating of "Moderate Buy" and an average target price of $54.00.

Institutional Investors Weigh In On Kinetik

Hedge funds and other institutional investors have recently bought and sold shares of the business. Miller Howard Investments Inc. NY raised its position in shares of Kinetik by 69.4% in the 1st quarter. Miller Howard Investments Inc. NY now owns 146,317 shares of the company's stock valued at $7,083,000 after purchasing an additional 59,942 shares in the last quarter. Infrastructure Capital Advisors LLC acquired a new stake in shares of Kinetik during the fourth quarter worth approximately $9,323,000. HighTower Advisors LLC grew its position in shares of Kinetik by 33.1% during the fourth quarter. HighTower Advisors LLC now owns 102,906 shares of the company's stock worth $3,710,000 after buying an additional 25,574 shares in the last quarter. Diversify Wealth Management LLC bought a new stake in shares of Kinetik in the first quarter worth $1,612,000. Finally, SG Americas Securities LLC increased its stake in shares of Kinetik by 92.6% in the first quarter. SG Americas Securities LLC now owns 274,447 shares of the company's stock worth $13,286,000 after buying an additional 131,971 shares during the last quarter. 21.11% of the stock is currently owned by hedge funds and other institutional investors.

Kinetik Company Profile

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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