Isq Global Fund Ii Gp Llc Sells 868 Shares of Kinetik (NYSE:KNTK) Stock

Key Points

• Isq Global Fund II GP LLC has sold roughly 4.54 million shares of Kinetik — including a 4,000,000-share block on Feb. 26 — collecting about $205.6 million from these transactions and leaving the firm with 1,338,933 shares (~$64.3M).
• Kinetik (NYSE:KNTK) is trading near its 52‑week high (~$49.63) with a market cap of ~$8.05 billion, recently reported a strong quarter (EPS $2.16 vs. $0.15 consensus, revenue +11.5%), and carries a consensus analyst rating of "Moderate Buy" with a $48.33 target.

Kinetik Holdings Inc. (NYSE:KNTK - Get Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 868 shares of the firm's stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $48.01, for a total value of $41,672.68. Following the sale, the insider directly owned 1,338,933 shares in the company, valued at approximately $64,282,173.33. This trade represents a 0.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 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 value 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 value of $9,325,510.96.
• 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 value 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 value 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 Performance

Kinetik stock traded up $0.76 during midday trading on Wednesday, hitting $49.63. 861,633 shares of the company were exchanged, compared to its average volume of 1,280,889. The firm has a market capitalization of $8.05 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 1.51 and a beta of 0.66. Kinetik Holdings Inc. has a fifty-two week low of $31.33 and a fifty-two week high of $49.73. The business has a fifty day simple moving average of $46.48 and a two-hundred day simple moving average of $40.38.

Kinetik (NYSE:KNTK - Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported $2.16 EPS for the quarter, topping the consensus estimate of $0.15 by $2.01. The firm 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 firm's revenue was up 11.5% on a year-over-year basis. During the same period last year, the business earned $0.01 earnings per share. As a group, equities analysts expect that Kinetik Holdings Inc. will post 1.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

KNTK has been the topic of several analyst reports. Barclays raised their target price on Kinetik from $44.00 to $46.00 and gave the stock an "equal weight" rating in a report on Friday, April 10th. Truist Financial initiated coverage on Kinetik in a report on Tuesday, March 24th. They issued a "buy" rating and a $53.00 price objective on the stock. Royal Bank Of Canada reissued an "outperform" rating and issued a $50.00 price objective (up from $49.00) on shares of Kinetik in a report on Thursday, April 16th. Wells Fargo & Company raised Kinetik from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $47.00 to $52.00 in a report on Wednesday, March 25th. Finally, Zacks Research raised Kinetik from a "strong sell" rating to a "hold" rating in a report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Kinetik has an average rating of "Moderate Buy" and a consensus price target of $48.33.

Institutional Trading of Kinetik

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Kinetik by 9.4% in the fourth quarter. Vanguard Group Inc. now owns 5,096,786 shares of the company's stock valued at $183,739,000 after purchasing an additional 439,586 shares during the period. Zimmer Partners LP acquired a new stake in shares of Kinetik in the fourth quarter worth approximately $98,611,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its stake in shares of Kinetik by 1.7% in the first quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,874,000 shares of the company's stock worth $90,720,000 after acquiring an additional 30,600 shares during the last quarter. Cohen & Steers Inc. boosted its stake in shares of Kinetik by 82.5% in the fourth quarter. Cohen & Steers Inc. now owns 1,843,506 shares of the company's stock worth $66,458,000 after acquiring an additional 833,224 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Kinetik by 22.4% in the fourth quarter. Invesco Ltd. now owns 1,775,216 shares of the company's stock worth $63,997,000 after acquiring an additional 325,251 shares during the last quarter. 21.11% of the stock is owned by institutional investors and hedge funds.

About Kinetik

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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