Vanguard Group Inc. Has $57.40 Million Stock Position in Kinetik Holdings Inc. (NASDAQ:KNTK)

Vanguard Group Inc. decreased its stake in shares of Kinetik Holdings Inc. (NASDAQ:KNTK - Free Report) by 1.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,700,818 shares of the company's stock after selling 33,113 shares during the period. Vanguard Group Inc. owned approximately 1.14% of Kinetik worth $57,403,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. UBS Group AG bought a new position in shares of Kinetik during the 3rd quarter valued at about $84,000. Tower Research Capital LLC TRC bought a new position in shares of Kinetik during the 3rd quarter valued at about $37,000. Dimensional Fund Advisors LP bought a new position in shares of Kinetik during the 3rd quarter valued at about $2,099,000. Credit Suisse AG bought a new position in shares of Kinetik during the 3rd quarter valued at about $724,000. Finally, Nuveen Asset Management LLC bought a new position in shares of Kinetik during the 3rd quarter valued at about $2,515,000. Institutional investors and hedge funds own 21.11% of the company's stock.

Analyst Ratings Changes

KNTK has been the subject of several research reports. Royal Bank of Canada began coverage on shares of Kinetik in a research report on Monday, March 25th. They set an "outperform" rating and a $40.00 price objective for the company. JPMorgan Chase & Co. upgraded shares of Kinetik from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $38.00 to $40.00 in a report on Friday, March 8th. Finally, Citigroup reiterated a "neutral" rating and issued a $35.00 target price on shares of Kinetik in a report on Tuesday, December 19th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Kinetik presently has a consensus rating of "Hold" and a consensus target price of $39.33.

Insider Buying and Selling at Kinetik

In other Kinetik news, insider Matthew Wall sold 5,750 shares of Kinetik stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $39.82, for a total value of $228,965.00. Following the completion of the sale, the insider now directly owns 530,066 shares in the company, valued at $21,107,228.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Matthew Wall sold 5,750 shares of the business's stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $39.82, for a total value of $228,965.00. Following the completion of the sale, the insider now directly owns 530,066 shares in the company, valued at $21,107,228.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Trevor Howard sold 7,000 shares of the business's stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $37.62, for a total transaction of $263,340.00. Following the completion of the sale, the insider now owns 198,411 shares of the company's stock, valued at $7,464,221.82. The disclosure for this sale can be found here. Insiders sold 13,095,803 shares of company stock worth $442,051,135 over the last ninety days. 3.62% of the stock is currently owned by insiders.

Kinetik Price Performance

KNTK traded down $0.18 on Monday, reaching $39.20. 479,272 shares of the company traded hands, compared to its average volume of 585,000. The stock's 50 day moving average price is $35.54 and its 200-day moving average price is $34.83. Kinetik Holdings Inc. has a 52-week low of $26.32 and a 52-week high of $40.42. The company has a market cap of $5.93 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 2.66 and a beta of 2.80.

Kinetik (NASDAQ:KNTK - Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $1.70 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $1.24. The firm had revenue of $348.87 million for the quarter, compared to the consensus estimate of $301.49 million. Kinetik had a net margin of 28.57% and a negative return on equity of 49.32%. The firm's revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 earnings per share. As a group, equities research analysts forecast that Kinetik Holdings Inc. will post 2.02 earnings per share for the current fiscal year.

Kinetik Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Thursday, February 22nd were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 7.65%. The ex-dividend date of this dividend was Wednesday, February 21st. Kinetik's dividend payout ratio (DPR) is presently 132.74%.

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.