Isq Global Fund Ii Gp Llc Sells 6,963 Shares of Kinetik (NYSE:KNTK) Stock

Key Points

• Major shareholder Isq Global Fund II GP LLC sold 6,963 Kinetik shares at an average $55.17, reducing its stake by 0.75% to 918,824 shares. The sale was part of a series of disposals totaling more than 1 million shares in August.
• Kinetik shares traded at $54.34, near their 12-month high of $56.10, with a market capitalization of $8.82 billion. The company recently reported quarterly EPS of $0.64 versus estimates of $0.19, while revenue rose 36.3% year over year to $581.44 million.
• Analysts maintain a generally positive view, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $53.27. Institutional ownership stands at 21.11%, including a significant increase in holdings by the California State Teachers’ Retirement System.

Kinetik Holdings Inc. (NYSE:KNTK - Get Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 6,963 shares of the company's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $55.17, for a total value of $384,148.71. Following the completion of the transaction, the insider owned 918,824 shares of the company's stock, valued at $50,691,520.08. The trade was a 0.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company's stock 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 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 shares were 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 stock was sold at an average price of $53.48, for a total transaction of $5,998,316.80.
• On Thursday, August 13th, Isq Global Fund Ii Gp Llc sold 113,075 shares of Kinetik stock. The shares were sold at an average price of $51.60, for a total transaction of $5,834,670.00.
• On Wednesday, August 12th, Isq Global Fund Ii Gp Llc sold 84,701 shares of Kinetik stock. The shares were sold at an average price of $51.52, for a total transaction of $4,363,795.52.
• On Tuesday, August 11th, Isq Global Fund Ii Gp Llc sold 147,516 shares of Kinetik stock. The stock was sold at an average price of $52.03, for a total transaction of $7,675,257.48.
• On Monday, August 10th, Isq Global Fund Ii Gp Llc sold 78,474 shares of Kinetik stock. The stock was sold at an average price of $50.87, for a total transaction of $3,991,972.38.
• On Friday, August 7th, Isq Global Fund Ii Gp Llc sold 26,550 shares of Kinetik stock. The shares were sold at an average price of $50.24, for a total value of $1,333,872.00.
• On Thursday, August 6th, Isq Global Fund Ii Gp Llc sold 235,349 shares of Kinetik stock. The shares were sold at an average price of $50.52, for a total value of $11,889,831.48.

Kinetik Stock Performance

Shares of KNTK stock traded down $0.36 during trading hours on Tuesday, hitting $54.34. The company had a trading volume of 1,362,462 shares, compared to its average volume of 1,172,689. Kinetik Holdings Inc. has a 12 month low of $31.33 and a 12 month high of $56.10. The firm's fifty day moving average is $49.86 and its 200 day moving average is $47.67. The firm has a market capitalization of $8.82 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 1.35 and a beta of 0.56.

Kinetik (NYSE:KNTK - Get Free Report) last posted 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 negative return on equity of 38.96% and a net margin of 26.19%.The business had revenue of $581.44 million during the quarter, compared to the consensus estimate of $421.48 million. During the same quarter last year, the company earned $0.33 EPS. Kinetik's revenue was up 36.3% on a year-over-year basis. On average, sell-side analysts expect that Kinetik Holdings Inc. will post 1.3 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Jefferies Financial Group restated a "hold" rating and issued a $51.00 target price on shares of Kinetik in a research note on Friday, May 8th. JPMorgan Chase & Co. boosted their price target on shares of Kinetik from $54.00 to $57.00 and gave the company an "overweight" rating in a research report on Tuesday, July 14th. Mizuho upped their price objective on shares of Kinetik from $48.00 to $51.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 28th. Wall Street Zen raised shares of Kinetik from a "strong sell" rating to a "hold" rating in a report on Saturday, August 8th. Finally, Scotiabank reiterated an "outperform" rating and issued a $52.00 target price (up from $51.00) on shares of Kinetik in a research note on Tuesday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $53.27.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in KNTK. California State Teachers Retirement System lifted its position in Kinetik by 4,839.8% during the 2nd quarter. California State Teachers Retirement System now owns 2,898,031 shares of the company's stock worth $140,091,000 after buying an additional 2,839,364 shares in the last quarter. NEOS Investment Management LLC lifted its holdings in Kinetik by 30.9% during the 2nd quarter. NEOS Investment Management LLC now owns 392,128 shares of the company's stock worth $18,955,000 after buying an additional 92,637 shares in the last quarter. iSAM Funds UK Ltd lifted its holdings in Kinetik by 11.9% during the 2nd quarter. iSAM Funds UK Ltd now owns 6,400 shares of the company's stock worth $309,000 after buying an additional 680 shares in the last quarter. Nykredit A S acquired a new stake in shares of Kinetik in the 2nd quarter valued at $109,000. Finally, Pinnacle Holdings LLC acquired a new stake in Kinetik in the second quarter worth about $4,476,000. 21.11% of the stock is owned by institutional investors.

Kinetik Company Profile

Kinetik NYSE: KNTK is a publicly listed midstream energy company focused on the development, operation and management of natural gas infrastructure across the United States. The company's core business activities include the gathering, compression, processing, storage and transportation of natural gas, serving producers, utilities and industrial consumers. By integrating a suite of midstream services under a single platform, Kinetik aims to provide efficient, cost-effective and reliable solutions across the natural gas value chain.

The company was established in 2021 when assets were acquired from Talen Energy by a subsidiary of ArcLight Capital Partners, forming a comprehensive portfolio of pipelines, compression facilities and underground storage assets.

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