Susquehanna Fundamental Investments LLC Makes New Investment in Kinetik Holdings Inc. (NASDAQ:KNTK)

Susquehanna Fundamental Investments LLC acquired a new position in shares of Kinetik Holdings Inc. (NASDAQ:KNTK - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 76,530 shares of the company's stock, valued at approximately $4,340,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. grew its stake in Kinetik by 2.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 9,088 shares of the company's stock worth $515,000 after acquiring an additional 174 shares during the period. GAMMA Investing LLC grew its position in shares of 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 purchasing an additional 213 shares during the period. Private Advisor Group LLC increased its stake in Kinetik by 5.3% in the fourth quarter. Private Advisor Group LLC now owns 8,859 shares of the company's stock valued at $502,000 after purchasing an additional 448 shares during the last quarter. Fifth Third Bancorp purchased a new position in Kinetik during the fourth quarter worth about $26,000. Finally, Canton Hathaway LLC acquired a new stake in Kinetik in the 4th quarter worth about $28,000. Hedge funds and other institutional investors own 21.11% of the company's stock.

Insider Activity at Kinetik

In other Kinetik news, major shareholder Isq Global Fund Ii Gp Llc sold 3,952,431 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $55.63, for a total value of $219,873,736.53. Following the completion of the sale, the insider now owns 1,044,520 shares of the company's stock, valued at $58,106,647.60. This trade represents a 79.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.83% of the company's stock.

Kinetik Price Performance

NASDAQ KNTK traded up $0.36 during trading hours on Friday, hitting $41.46. The company had a trading volume of 1,009,218 shares, compared to its average volume of 619,561. The firm's 50 day moving average is $48.40 and its 200 day moving average is $54.84. Kinetik Holdings Inc. has a fifty-two week low of $37.85 and a fifty-two week high of $67.60. The company has a market capitalization of $6.54 billion, a price-to-earnings ratio of 15.30, a P/E/G ratio of 1.52 and a beta of 2.68.

Kinetik Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Friday, April 25th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, April 25th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 7.53%. Kinetik's dividend payout ratio (DPR) is currently 305.88%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on KNTK. Barclays increased their price objective on shares of Kinetik from $57.00 to $58.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 16th. Scotiabank decreased their price target on shares of Kinetik from $62.00 to $60.00 and set a "sector outperform" rating on the stock in a report on Thursday, March 6th. UBS Group assumed coverage on Kinetik in a report on Tuesday, April 29th. They set a "neutral" rating and a $49.00 price objective for the company. Wells Fargo & Company reduced their target price on Kinetik from $60.00 to $58.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. Finally, Royal Bank of Canada dropped their price target on Kinetik from $67.00 to $63.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $58.56.

About Kinetik

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.