Kinetik (NYSE:KNTK) Major Shareholder Sells $7,130,683.56 in Stock

Key Points

• Major shareholder ISQ Global Fund II sold 135,102 Kinetik shares for approximately $7.13 million, reducing its position by 11.97% to 993,792 shares. The fund has made multiple additional sales since August 3.
• Kinetik shares recently traded at $52.99, near their 52-week high of $54.12, with an $8.60 billion market capitalization. The stock has risen above its 50-day and 200-day moving averages.
• Kinetik reported quarterly EPS of $0.64, exceeding the $0.19 consensus estimate, while revenue increased 36.3% year over year to $581.44 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $52.87.

Kinetik Holdings Inc. (NYSE:KNTK - Get Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 135,102 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $52.78, for a total transaction of $7,130,683.56. Following the sale, the insider owned 993,792 shares of the company's stock, valued at $52,452,341.76. This represents a 11.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company's stock 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 Friday, August 14th, Isq Global Fund Ii Gp Llc sold 112,160 shares of Kinetik stock. The shares were sold at an average price of $53.48, for a total transaction of $5,998,316.80.
• On Thursday, August 13th, Isq Global Fund Ii Gp Llc sold 113,075 shares of Kinetik stock. The stock was 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 shares were 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 shares were 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 transaction of $1,333,872.00.
• On Thursday, August 6th, Isq Global Fund Ii Gp Llc sold 235,349 shares of Kinetik stock. The stock was 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.

Kinetik Price Performance

Shares of NYSE KNTK traded down $0.45 during midday trading on Monday, hitting $52.99. The company's stock had a trading volume of 840,819 shares, compared to its average volume of 1,059,783. The firm has a market capitalization of $8.60 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 1.32 and a beta of 0.56. The business's fifty day simple moving average is $49.07 and its two-hundred day simple moving average is $47.18. Kinetik Holdings Inc. has a 1 year low of $31.33 and a 1 year high of $54.12.

Kinetik (NYSE:KNTK - Get Free Report) last released its 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. Kinetik had a negative return on equity of 38.96% and a net margin of 26.19%.The firm had revenue of $581.44 million during the quarter, compared to analysts' expectations of $421.48 million. During the same period in the previous year, the firm posted $0.33 EPS. Kinetik's revenue for the quarter was up 36.3% on a year-over-year basis. Analysts anticipate that Kinetik Holdings Inc. will post 1.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Kinetik

Several hedge funds and other institutional investors have recently made changes to their positions in KNTK. CWM LLC boosted its holdings in Kinetik by 89.8% in the fourth quarter. CWM LLC now owns 744 shares of the company's stock valued at $27,000 after purchasing an additional 352 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in Kinetik during the fourth quarter worth approximately $33,000. Los Angeles Capital Management LLC purchased a new stake in shares of Kinetik during the 4th quarter worth approximately $40,000. Huntington National Bank lifted its position in shares of 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 buying an additional 711 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of Kinetik in the 3rd quarter valued at $55,000. Institutional investors and hedge funds own 21.11% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on KNTK shares. Scotiabank reaffirmed 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. Citigroup reiterated a "buy" rating and set a $55.00 price target (up from $52.00) on shares of Kinetik in a report on Tuesday, August 11th. Raymond James Financial reissued an "outperform" rating and issued a $55.00 price objective on shares of Kinetik in a research report on Friday, August 7th. Weiss Ratings upgraded shares of Kinetik from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, August 11th. Finally, Zacks Research raised shares of Kinetik from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $52.87.

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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