Kinetik Holdings Inc. (NASDAQ:KNTK) Shares Sold by Marshall Wace LLP

Marshall Wace LLP decreased its holdings in Kinetik Holdings Inc. (NASDAQ:KNTK - Free Report) by 72.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,542 shares of the company's stock after selling 36,223 shares during the quarter. Marshall Wace LLP's holdings in Kinetik were worth $768,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of KNTK. Fifth Third Bancorp acquired a new position in shares of Kinetik in the 4th quarter valued at $26,000. Canton Hathaway LLC acquired a new position in Kinetik in the fourth quarter valued at $28,000. GAMMA Investing LLC boosted its holdings in Kinetik by 72.0% in the fourth quarter. GAMMA Investing LLC now owns 509 shares of the company's stock valued at $29,000 after acquiring an additional 213 shares during the last quarter. Rialto Wealth Management LLC purchased a new stake in Kinetik during the fourth quarter valued at about $34,000. Finally, Sterling Capital Management LLC increased its stake in Kinetik by 789.4% during 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. 21.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Kinetik

In other Kinetik news, major shareholder Isq Global Fund Ii Gp Llc sold 1,044,519 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $52.66, for a total transaction of $55,004,370.54. Following the sale, the insider now owns 657,583 shares in the company, valued at $34,628,320.78. This represents a 61.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 3.83% of the company's stock.

Kinetik Stock Performance

Shares of NASDAQ:KNTK traded down $1.47 during trading on Monday, hitting $40.10. The company's stock had a trading volume of 1,060,048 shares, compared to its average volume of 621,326. Kinetik Holdings Inc. has a fifty-two week low of $37.85 and a fifty-two week high of $67.60. The stock's 50-day moving average price is $48.40 and its two-hundred day moving average price is $54.87. The company has a market capitalization of $6.33 billion, a PE ratio of 14.80, a PEG ratio of 1.52 and a beta of 3.03.

Kinetik Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Friday, April 25th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 7.78%. The ex-dividend date was Friday, April 25th. Kinetik's dividend payout ratio (DPR) is currently 305.88%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Kinetik from $63.00 to $65.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 15th. Scotiabank cut their target price 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. UBS Group began coverage on shares of Kinetik in a research report on Tuesday, April 29th. They set a "neutral" rating and a $49.00 price target for the company. Wells Fargo & Company cut their price objective on Kinetik from $60.00 to $58.00 and set an "equal weight" rating on the stock in a research report on Friday, February 28th. Finally, Barclays boosted their price objective on Kinetik from $57.00 to $58.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 16th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $58.56.

Kinetik Profile

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.