Insider Selling: Kinetik (NYSE:KNTK) Major Shareholder Sells 534,564 Shares of Stock

Key Points

• Isq Global Fund II GP LLC sold 534,564 shares of Kinetik on April 30 at $50.52 for about $27.01M, cutting its stake by 55.48% to 428,894 shares; the firm also disposed of 4,000,000 shares on Feb. 26 at $44.85 (~$179.4M) as part of a series of recent sales.
• Kinetik shares traded up ~2.8% to $50.76 on the news, with a market cap of $8.23B, a P/E of ~19.8 and a 52‑week high near $51.11.
• The company reported a strong quarter, beating EPS estimates with $2.16 vs. $0.15 consensus and revenue of $430.4M (up 11.5% year‑over‑year), though return on equity remained negative.

Kinetik Holdings Inc. (NYSE:KNTK - Get Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 534,564 shares of Kinetik stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $50.52, for a total transaction of $27,006,173.28. Following the completion of the sale, the insider owned 428,894 shares of the company's stock, valued at approximately $21,667,724.88. This trade represents a 55.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 Wednesday, April 29th, Isq Global Fund Ii Gp Llc sold 183,434 shares of Kinetik stock. The stock was sold at an average price of $49.53, for a total transaction of $9,085,486.02.
• On Tuesday, April 28th, Isq Global Fund Ii Gp Llc sold 192,041 shares of Kinetik stock. The stock was sold at an average price of $48.56, for a total transaction of $9,325,510.96.
• On Monday, April 27th, Isq Global Fund Ii Gp Llc sold 868 shares of Kinetik stock. The stock was sold at an average price of $48.01, for a total transaction of $41,672.68.
• On Wednesday, April 22nd, Isq Global Fund Ii Gp Llc sold 21,429 shares of Kinetik stock. The stock was sold at an average price of $48.02, for a total transaction of $1,029,020.58.
• On Thursday, April 23rd, Isq Global Fund Ii Gp Llc sold 138,771 shares of Kinetik stock. The stock was sold at an average price of $48.17, for a total transaction of $6,684,599.07.
• On Thursday, February 26th, Isq Global Fund Ii Gp Llc sold 4,000,000 shares of Kinetik stock. The stock was sold at an average price of $44.85, for a total value of $179,400,000.00.

Kinetik Stock Up 2.8%

Shares of KNTK traded up $1.37 during mid-day trading on Monday, hitting $50.76. The stock had a trading volume of 1,824,384 shares, compared to its average volume of 1,293,988. The company has a market cap of $8.23 billion, a PE ratio of 19.75, a PEG ratio of 1.56 and a beta of 0.61. The company's fifty day simple moving average is $46.59 and its two-hundred day simple moving average is $40.50. Kinetik Holdings Inc. has a fifty-two week low of $31.33 and a fifty-two week high of $51.11.

Kinetik (NYSE:KNTK - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $2.01. The business had revenue of $430.42 million for the quarter. Kinetik had a negative return on equity of 32.70% and a net margin of 29.23%.The company's revenue for the quarter was up 11.5% on a year-over-year basis. During the same period last year, the business posted $0.01 EPS. Equities analysts expect that Kinetik Holdings Inc. will post 1.01 earnings per share for the current year.

Institutional Trading of Kinetik

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. ProShare Advisors LLC lifted its position in shares of Kinetik by 3.5% during the 4th quarter. ProShare Advisors LLC now owns 8,633 shares of the company's stock worth $311,000 after purchasing an additional 294 shares during the last quarter. Maryland State Retirement & Pension System lifted its position in shares of Kinetik by 5.4% during the 4th quarter. Maryland State Retirement & Pension System now owns 6,612 shares of the company's stock worth $238,000 after purchasing an additional 337 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Kinetik by 0.4% during the 2nd quarter. Federated Hermes Inc. now owns 89,133 shares of the company's stock worth $3,926,000 after purchasing an additional 346 shares during the last quarter. CWM LLC lifted its position in shares of Kinetik by 89.8% during the 4th quarter. CWM LLC now owns 744 shares of the company's stock worth $27,000 after purchasing an additional 352 shares during the last quarter. Finally, Apollon Wealth Management LLC lifted its position in shares of Kinetik by 6.9% during the 3rd quarter. Apollon Wealth Management LLC now owns 5,990 shares of the company's stock worth $256,000 after purchasing an additional 388 shares during the last quarter. Institutional investors and hedge funds own 21.11% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Scotiabank lifted their price target on Kinetik from $49.00 to $51.00 and gave the company a "sector outperform" rating in a research report on Tuesday, March 17th. Jefferies Financial Group reiterated a "hold" rating and set a $50.00 price target (up from $49.00) on shares of Kinetik in a research report on Wednesday, April 15th. Citigroup lifted their price target on Kinetik from $46.00 to $51.00 and gave the company a "buy" rating in a research report on Monday, March 2nd. Wolfe Research cut Kinetik from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, January 27th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $50.00 price target (up from $49.00) on shares of Kinetik in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Kinetik presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.33.

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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