Isq Global Fund Ii Gp Llc Sells 3,107 Shares of Kinetik (NYSE:KNTK) Stock

Key Points

• Major shareholder Isq Global Fund II GP LLC sold 3,107 Kinetik shares at an average price of $55.07, reducing its position by 0.33% to 925,787 shares. The sale followed several larger disposals in August.
• Kinetik shares fell 0.4% to $54.47, while the company reported strong quarterly results: EPS of $0.64 versus a $0.19 consensus estimate and revenue of $581.44 million, up 36.3% year over year.
• Analysts maintain a positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $53.27; institutional investors own 21.11% of the company.

Kinetik Holdings Inc. (NYSE:KNTK - Get Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 3,107 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $55.07, for a total transaction of $171,102.49. Following the transaction, the insider owned 925,787 shares in the company, valued at approximately $50,983,090.09. This trade represents a 0.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.

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

• On Monday, August 17th, Isq Global Fund Ii Gp Llc sold 135,102 shares of Kinetik stock. The stock was 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 value 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 value 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 value 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 value 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 value of $3,991,972.38.
• On Friday, August 7th, Isq Global Fund Ii Gp Llc sold 26,550 shares of Kinetik stock. The stock was 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 transaction of $11,889,831.48.
• On Monday, August 3rd, Isq Global Fund Ii Gp Llc sold 2,175 shares of Kinetik stock. The stock was sold at an average price of $50.04, for a total transaction of $108,837.00.

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Kinetik Trading Down 0.4%

Shares of NYSE:KNTK traded down $0.24 during midday trading on Thursday, reaching $54.47. 1,119,421 shares of the company were exchanged, compared to its average volume of 1,170,829. The stock has a market cap of $8.84 billion, a PE ratio of 19.74, a price-to-earnings-growth ratio of 1.35 and a beta of 0.56. The business's fifty day moving average is $49.39 and its two-hundred day moving average is $47.38. Kinetik Holdings Inc. has a one year low of $31.33 and a one year high of $56.10.

Kinetik (NYSE:KNTK - Get Free Report) last announced its quarterly 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. The business had revenue of $581.44 million for the quarter, compared to analysts' expectations of $421.48 million. Kinetik had a net margin of 26.19% and a negative return on equity of 38.96%. The business's quarterly revenue was up 36.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.33 EPS. As a group, sell-side analysts expect that Kinetik Holdings Inc. will post 1.3 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on KNTK. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $54.00 price objective on shares of Kinetik in a research note on Monday, August 10th. Scotiabank reissued an "outperform" rating and issued a $52.00 target price (up from $51.00) on shares of Kinetik in a report on Tuesday, May 12th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $57.00 price target (up from $56.00) on shares of Kinetik in a research note on Tuesday, August 11th. JPMorgan Chase & Co. increased their price target on shares of Kinetik from $54.00 to $57.00 and gave the company an "overweight" rating in a report on Tuesday, July 14th. Finally, US Capital Advisors raised Kinetik from a "moderate buy" rating to a "strong-buy" rating in a research note on Friday, May 29th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Kinetik currently has an average rating of "Moderate Buy" and a consensus target price of $53.27.

Institutional Investors Weigh In On Kinetik

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC raised its stake in shares of Kinetik by 89.8% during the fourth quarter. CWM LLC now owns 744 shares of the company's stock valued at $27,000 after acquiring an additional 352 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Kinetik in the fourth quarter worth approximately $33,000. Los Angeles Capital Management LLC purchased a new position in Kinetik during the 4th quarter worth $40,000. Huntington National Bank increased its holdings in Kinetik by 139.1% during the 4th quarter. Huntington National Bank now owns 1,222 shares of the company's stock worth $44,000 after purchasing an additional 711 shares during the period. Finally, SBI Okasan Asset Management Co.Ltd. bought a new stake in Kinetik during the 4th quarter valued at $47,000. Institutional investors own 21.11% of the company's stock.

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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