PDT Partners LLC Has $4.92 Million Stock Position in Kinetik Holdings Inc. (NASDAQ:KNTK)

PDT Partners LLC lifted its holdings in shares of Kinetik Holdings Inc. (NASDAQ:KNTK - Free Report) by 19.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 86,830 shares of the company's stock after buying an additional 13,983 shares during the period. PDT Partners LLC owned approximately 0.06% of Kinetik worth $4,924,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Barclays PLC increased its position in shares of Kinetik by 34.5% during the 3rd quarter. Barclays PLC now owns 234,286 shares of the company's stock valued at $10,603,000 after purchasing an additional 60,058 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Kinetik by 14,124.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,940 shares of the company's stock valued at $820,000 after buying an additional 13,842 shares in the last quarter. Principal Financial Group Inc. acquired a new position in Kinetik during the third quarter worth $921,000. JPMorgan Chase & Co. lifted its stake in shares of Kinetik by 53.5% in the third quarter. JPMorgan Chase & Co. now owns 157,858 shares of the company's stock worth $7,145,000 after buying an additional 55,050 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Kinetik by 12.5% during the 4th quarter. Bank of New York Mellon Corp now owns 488,011 shares of the company's stock valued at $27,675,000 after purchasing an additional 54,081 shares during the period. Institutional investors own 21.11% of the company's stock.

Kinetik Price Performance

Kinetik stock traded down $0.32 during trading hours on Thursday, hitting $41.02. The company had a trading volume of 932,826 shares, compared to its average volume of 617,000. The firm has a 50-day moving average of $48.71 and a 200 day moving average of $54.85. The firm has a market cap of $6.47 billion, a PE ratio of 15.14, a PEG ratio of 1.52 and a beta of 2.68. Kinetik Holdings Inc. has a one year low of $37.85 and a one year high of $67.60.

Kinetik Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Friday, April 25th will be paid a $0.78 dividend. The ex-dividend date is Friday, April 25th. This represents a $3.12 annualized dividend and a dividend yield of 7.61%. Kinetik's dividend payout ratio (DPR) is presently 305.88%.

Insiders Place Their Bets

In related news, major shareholder Isq Global Fund Ii Gp Llc sold 1,044,519 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were 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 approximately $34,628,320.78. This trade represents a 61.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.83% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on KNTK shares. Scotiabank decreased their price objective on Kinetik from $62.00 to $60.00 and set a "sector outperform" rating on the stock in a report on Thursday, March 6th. JPMorgan Chase & Co. lifted their price target 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. Royal Bank of Canada reduced their price target on shares of Kinetik from $67.00 to $63.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. UBS Group started coverage on Kinetik in a report on Tuesday. They set a "neutral" rating and a $49.00 target price for the company. Finally, Barclays upped their target price on Kinetik from $57.00 to $58.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 16th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price 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.