Kinetik Holdings Inc. (NASDAQ:KNTK) Shares Sold by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL cut its stake in shares of Kinetik Holdings Inc. (NASDAQ:KNTK - Free Report) by 64.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 87,348 shares of the company's stock after selling 156,844 shares during the period. Tudor Investment Corp ET AL owned about 0.06% of Kinetik worth $4,954,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Fifth Third Bancorp bought a new position in Kinetik in the fourth quarter valued at approximately $26,000. Canton Hathaway LLC bought a new position in Kinetik in the fourth quarter valued at approximately $28,000. GAMMA Investing LLC increased its stake in shares of Kinetik by 72.0% during the 4th quarter. GAMMA Investing LLC now owns 509 shares of the company's stock worth $29,000 after purchasing an additional 213 shares during the last quarter. Rialto Wealth Management LLC acquired a new position in Kinetik in the 4th quarter valued at about $34,000. Finally, Sterling Capital Management LLC raised its position in Kinetik by 789.4% in the fourth quarter. Sterling Capital Management LLC now owns 1,094 shares of the company's stock valued at $62,000 after purchasing an additional 971 shares during the last quarter. Institutional investors and hedge funds own 21.11% of the company's stock.

Insider Buying and Selling

In related news, major shareholder Isq Global Fund Ii Gp Llc sold 1,044,519 shares of Kinetik stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $52.66, for a total value of $55,004,370.54. Following the sale, the insider now directly owns 657,583 shares in the company, valued at $34,628,320.78. The trade was a 61.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.83% of the stock is currently owned by corporate insiders.

Kinetik Trading Down 0.4 %

KNTK stock traded down $0.16 during trading on Wednesday, reaching $40.34. 93,506 shares of the stock were exchanged, compared to its average volume of 622,827. The business has a 50 day moving average price of $47.73 and a 200-day moving average price of $54.70. Kinetik Holdings Inc. has a 1 year low of $37.85 and a 1 year high of $67.60. The firm has a market capitalization of $6.36 billion, a price-to-earnings ratio of 14.85, a P/E/G ratio of 1.52 and a beta of 3.03.

Kinetik Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Friday, April 25th were given 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 yield of 7.73%. Kinetik's payout ratio is currently 305.88%.

Analyst Ratings Changes

KNTK has been the topic of a number of research reports. Wells Fargo & Company dropped their price target on Kinetik from $60.00 to $58.00 and set an "equal weight" rating on the stock in a research note on Friday, February 28th. Royal Bank of Canada lowered their price objective on Kinetik from $67.00 to $63.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. Barclays lifted their target price on Kinetik from $57.00 to $58.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 16th. UBS Group began coverage on Kinetik in a report on Tuesday, April 29th. They set a "neutral" rating and a $49.00 target price for the company. Finally, Scotiabank cut their price objective 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. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.