Insider Selling: Kinetik (NYSE:KNTK) Major Shareholder Sells 2,175 Shares of Stock

Key Points

• Major shareholder ISQ Global Fund II GP LLC sold 2,175 Kinetik shares at an average price of $50.04, generating $108,837; it retained approximately 1.93 million shares after the transaction.
• ISQ also sold an additional 261,899 shares in two recent transactions for roughly $13.2 million, indicating broader selling activity by the major shareholder.
• Kinetik reported strong quarterly results, with EPS of $0.64 versus the $0.19 consensus and revenue up 36.3% year over year to $581.44 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $52.07.

Kinetik Holdings Inc. (NYSE:KNTK - Get Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 2,175 shares of the company's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $50.04, for a total value of $108,837.00. Following the completion of the transaction, the insider directly owned 1,926,719 shares in the company, valued at approximately $96,413,018.76. The trade was a 0.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 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 Price Performance

NYSE:KNTK traded down $1.09 during mid-day trading on Friday, reaching $49.08. The stock had a trading volume of 1,145,809 shares, compared to its average volume of 967,348. The business's 50 day moving average is $48.31 and its 200 day moving average is $46.59. Kinetik Holdings Inc. has a fifty-two week low of $31.33 and a fifty-two week high of $52.54. The stock has a market cap of $7.97 billion, a P/E ratio of 16.95, a PEG ratio of 1.98 and a beta of 0.56.

Kinetik (NYSE:KNTK - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.64 earnings per share 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 37.86%. The company's revenue for the quarter was up 36.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 earnings per share. Equities analysts expect that Kinetik Holdings Inc. will post 0.81 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on KNTK. Barclays set a $51.00 price objective on shares of Kinetik and gave the company an "equal weight" rating in a research note on Thursday. Weiss Ratings raised shares of Kinetik from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, July 6th. Jefferies Financial Group restated a "hold" rating and set a $51.00 target price on shares of Kinetik in a report on Friday, May 8th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $56.00 price target on shares of Kinetik in a research report on Tuesday, July 21st. Finally, US Capital Advisors upgraded Kinetik from a "moderate buy" rating to a "strong-buy" rating in a research note on Friday, May 29th. Three research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Kinetik presently has an average rating of "Moderate Buy" and an average target price of $52.07.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of KNTK. CWM LLC raised its holdings in Kinetik by 89.8% in the 4th quarter. CWM LLC now owns 744 shares of the company's stock worth $27,000 after acquiring an additional 352 shares during the period. Signaturefd LLC boosted its holdings in Kinetik by 101.5% during the fourth quarter. Signaturefd LLC now owns 802 shares of the company's stock valued at $29,000 after acquiring an additional 404 shares during the period. Kestra Advisory Services LLC bought a new stake in Kinetik during the fourth quarter valued at about $33,000. Los Angeles Capital Management LLC acquired a new stake in shares of Kinetik in the fourth quarter valued at about $40,000. Finally, Huntington National Bank grew its position in shares of Kinetik by 139.1% in the fourth quarter. Huntington National Bank now owns 1,222 shares of the company's stock valued at $44,000 after purchasing an additional 711 shares during the last quarter. 21.11% of the stock is currently owned by institutional investors and hedge funds.

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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