Kinetik (NYSE:KNTK) Major Shareholder Isq Global Fund Ii Gp Llc Sells 2,000,000 Shares of Stock

Key Points

• ISQ Global Fund II GP LLC sold 2 million Kinetik shares at an average price of $54.77, generating $109.54 million. After the transaction, the major shareholder’s reported ownership fell to just one share.
• Kinetik shares declined 1.8% to $53.63, though the stock remains near its 12-month high of $56.92. The company recently exceeded earnings and revenue expectations, reporting $0.64 in quarterly EPS and $581.44 million in revenue.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and a $55.67 price target. Morgan Stanley raised its target to $70, while Goldman Sachs maintained a “Buy” rating and Barclays increased its target to $56.

Kinetik Holdings Inc. (NYSE:KNTK - Get Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 2,000,000 shares of Kinetik stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $54.77, for a total value of $109,540,000.00. Following the completion of the transaction, the insider directly owned 1 shares in the company, valued at $54.77. This represents a 100.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 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 Monday, October 12th, Isq Global Fund Ii Gp Llc sold 38,377 shares of Kinetik stock. The shares were sold at an average price of $54.19, for a total value of $2,079,649.63.
• On Friday, October 9th, Isq Global Fund Ii Gp Llc sold 58,439 shares of Kinetik stock. The shares were sold at an average price of $54.21, for a total value of $3,167,978.19.
• On Thursday, October 8th, Isq Global Fund Ii Gp Llc sold 119,203 shares of Kinetik stock. The stock was sold at an average price of $54.29, for a total value of $6,471,530.87.
• On Wednesday, October 7th, Isq Global Fund Ii Gp Llc sold 58,464 shares of Kinetik stock. The stock was sold at an average price of $53.79, for a total value of $3,144,778.56.
• On Tuesday, October 6th, Isq Global Fund Ii Gp Llc sold 94,570 shares of Kinetik stock. The stock was sold at an average price of $54.00, for a total value of $5,106,780.00.
• On Monday, October 5th, Isq Global Fund Ii Gp Llc sold 15,088 shares of Kinetik stock. The shares were sold at an average price of $53.53, for a total value of $807,660.64.
• On Wednesday, September 23rd, Isq Global Fund Ii Gp Llc sold 24,194 shares of Kinetik stock. The shares were sold at an average price of $53.55, for a total value of $1,295,588.70.
• On Tuesday, September 22nd, Isq Global Fund Ii Gp Llc sold 39,937 shares of Kinetik stock. The stock was sold at an average price of $53.72, for a total value of $2,145,415.64.
• On Monday, September 21st, Isq Global Fund Ii Gp Llc sold 21,511 shares of Kinetik stock. The stock was sold at an average price of $53.59, for a total value of $1,152,774.49.
• On Friday, September 18th, Isq Global Fund Ii Gp Llc sold 135,084 shares of Kinetik stock. The shares were sold at an average price of $54.25, for a total transaction of $7,328,307.00.

Kinetik Stock Down 1.8%

Shares of NYSE KNTK traded down $0.96 during trading on Thursday, reaching $53.63. 1,588,881 shares of the stock were exchanged, compared to its average volume of 1,185,667. Kinetik Holdings Inc. has a twelve month low of $31.33 and a twelve month high of $56.92. The company has a market capitalization of $8.71 billion, a price-to-earnings ratio of 19.43, a price-to-earnings-growth ratio of 1.37 and a beta of 0.61. The business's 50-day moving average price is $53.39 and its 200 day moving average price is $50.05.

Kinetik (NYSE:KNTK - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $421.48 million. During the same period in the previous year, the company earned $0.33 earnings per share. The company's revenue for the quarter was up 36.3% compared to the same quarter last year. As a group, sell-side analysts expect that Kinetik Holdings Inc. will post 1.30 earnings per share for the current fiscal year.

Institutional Trading of Kinetik

Several institutional investors have recently added to or reduced their stakes in the business. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its position in Kinetik by 1.7% in the 1st quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,874,000 shares of the company's stock valued at $90,720,000 after acquiring an additional 30,600 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Kinetik by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 687,553 shares of the company's stock worth $33,285,000 after purchasing an additional 8,513 shares in the last quarter. Crawford Investment Counsel Inc. grew its stake in shares of Kinetik by 30.5% in the fourth quarter. Crawford Investment Counsel Inc. now owns 403,348 shares of the company's stock worth $14,541,000 after purchasing an additional 94,173 shares in the last quarter. NEOS Investment Management LLC grew its position in Kinetik by 30.9% in the 2nd quarter. NEOS Investment Management LLC now owns 392,128 shares of the company's stock valued at $18,955,000 after buying an additional 92,637 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its position in shares of Kinetik by 107.1% during the 1st quarter. Pictet Asset Management Holding SA now owns 365,652 shares of the company's stock worth $17,701,000 after buying an additional 189,065 shares in the last quarter. Institutional investors own 21.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Morgan Stanley reissued an "overweight" rating and set a $70.00 price target (up from $64.00) on shares of Kinetik in a research report on Tuesday, August 18th. Weiss Ratings raised shares of Kinetik from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, August 11th. Barclays boosted their target price on shares of Kinetik from $51.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Tuesday. The Goldman Sachs Group restated a "buy" rating and issued a $58.00 target price on shares of Kinetik in a research note on Wednesday. Finally, Clear Str downgraded Kinetik from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.67.

Kinetik News Roundup

Here are the key news stories impacting Kinetik this week:

• Positive Sentiment: RBC Capital Markets expects Kinetik’s third-quarter results to exceed company guidance, reinforcing confidence in operating performance and near-term earnings momentum. Kinetik Q3 Earnings Expected to Top Guidance, RBC Capital Markets Says
• Positive Sentiment: RBC raised its price target from $57 to $58 and maintained an “outperform” rating, implying additional upside from recent trading levels. RBC Raises Price Target on Kinetik Holdings to $58 From $57
• Positive Sentiment: Goldman Sachs reiterated its “buy” rating, while Barclays lifted its price objective to $56 from $51. These actions add to a generally constructive analyst view of Kinetik. Goldman Sachs Sticks to Its Buy Rating for Kinetik Barclays Forecasts Strong Price Appreciation for Kinetik
• Positive Sentiment: Kinetik declared its quarterly cash dividend, payable October 30, giving income-focused investors continued visibility into shareholder returns. Kinetik Announces Quarterly Cash Dividend
• Neutral Sentiment: Coverage highlights Kinetik’s strong recent performance and its position as a Delaware Basin midstream operator, with the stock trading close to its annual high. What Explains Kinetik Near Its Annual High?
• Negative Sentiment: Major shareholder ISQ Global Fund II GP LLC disclosed repeated sales totaling hundreds of thousands of shares, including a transaction that reduced its holding to one share. The disposals may create a technical supply overhang, although they could also reflect portfolio rebalancing rather than a change in Kinetik’s fundamentals. Kinetik Major Shareholder Sells Shares

Kinetik Company Profile

Kinetik Holdings Inc NYSE: KNTK is a midstream energy company that provides infrastructure and logistics services for natural gas, natural gas liquids (NGLs), crude oil and produced water. The company primarily serves producers operating in the Delaware Basin, a major oil and gas-producing region within the Permian Basin of West Texas and southeastern New Mexico.

Kinetik's operations include natural gas gathering, compression, processing and transportation, as well as NGL transportation and pipeline logistics.

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