Barclays PLC decreased its position in shares of Kinetik Holdings Inc. (NASDAQ:KNTK - Free Report) by 8.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 214,357 shares of the company's stock after selling 19,929 shares during the period. Barclays PLC owned about 0.14% of Kinetik worth $12,156,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in KNTK. Fifth Third Bancorp purchased a new position in shares of Kinetik during the fourth quarter valued at approximately $26,000. Canton Hathaway LLC bought a new position in Kinetik during the 4th quarter valued at approximately $28,000. GAMMA Investing LLC raised its stake in Kinetik by 72.0% during the fourth quarter. GAMMA Investing LLC now owns 509 shares of the company's stock valued at $29,000 after buying an additional 213 shares during the last quarter. Rialto Wealth Management LLC bought a new stake in Kinetik in the fourth quarter worth $34,000. Finally, Sterling Capital Management LLC grew its stake in shares of Kinetik by 789.4% in the fourth quarter. Sterling Capital Management LLC now owns 1,094 shares of the company's stock worth $62,000 after acquiring an additional 971 shares during the last quarter. Hedge funds and other institutional investors own 21.11% of the company's stock.
Kinetik Trading Down 0.9 %
Shares of NASDAQ KNTK traded down $0.41 during trading hours on Friday, reaching $42.84. The stock had a trading volume of 467,503 shares, compared to its average volume of 610,990. Kinetik Holdings Inc. has a 52-week low of $37.65 and a 52-week high of $67.60. The firm has a market cap of $6.76 billion, a price-to-earnings ratio of 15.81, a P/E/G ratio of 1.52 and a beta of 2.68. The business's fifty day moving average price is $50.08 and its two-hundred day moving average price is $55.05.
Kinetik Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Friday, April 25th will be issued a dividend of $0.78 per share. The ex-dividend date is Friday, April 25th. This represents a $3.12 dividend on an annualized basis and a yield of 7.28%. Kinetik's dividend payout ratio is currently 305.88%.
Insider Buying and Selling at Kinetik
In other news, major shareholder Isq Global Fund Ii Gp Llc sold 3,952,431 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $55.63, for a total transaction of $219,873,736.53. Following the transaction, the insider now owns 1,044,520 shares in the company, valued at $58,106,647.60. This represents a 79.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.83% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on KNTK shares. Scotiabank dropped their price target on shares of Kinetik from $62.00 to $60.00 and set a "sector outperform" rating on the stock in a research note on Thursday, March 6th. Barclays increased their price target on shares of Kinetik from $57.00 to $58.00 and gave the company an "equal weight" rating in a report on Wednesday, April 16th. JPMorgan Chase & Co. boosted their price objective on shares of Kinetik from $63.00 to $65.00 and gave the stock an "overweight" rating in a report on Wednesday, January 15th. Wells Fargo & Company reduced their target price on Kinetik from $60.00 to $58.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. Finally, US Capital Advisors upgraded Kinetik from a "hold" rating to a "moderate buy" rating in a research note on Monday, April 7th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $59.75.
Read Our Latest Report on KNTK
About Kinetik
(
Free Report)
Kinetik Holdings Inc operates as a midstream company in the Texas Delaware Basin. The company operates through two segments, Midstream Logistics and Pipeline Transportation. It provides gathering, transportation, compression, processing, stabilization, treating, storage, and transportation services for companies that produce natural gas, natural gas liquids, and crude oil; and water gathering and disposal services.
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