Tudor Investment Corp ET AL Sells 156,844 Shares of Kinetik Holdings Inc. (NASDAQ:KNTK)

Tudor Investment Corp ET AL lowered its stake in Kinetik Holdings Inc. (NASDAQ:KNTK - Free Report) by 64.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 87,348 shares of the company's stock after selling 156,844 shares during the quarter. Tudor Investment Corp ET AL owned 0.06% of Kinetik worth $4,954,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of KNTK. Fifth Third Bancorp acquired a new position in Kinetik during the 4th quarter worth about $26,000. Canton Hathaway LLC purchased a new stake in Kinetik in the 4th quarter valued at $28,000. GAMMA Investing LLC increased its stake in shares of Kinetik by 72.0% during the fourth quarter. GAMMA Investing LLC now owns 509 shares of the company's stock worth $29,000 after acquiring an additional 213 shares during the period. Rialto Wealth Management LLC purchased a new stake in Kinetik during the fourth quarter worth $34,000. Finally, Sterling Capital Management LLC raised its stake in Kinetik by 789.4% in the 4th 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. 21.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Royal Bank of Canada decreased their price objective on shares of Kinetik from $67.00 to $63.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. UBS Group started coverage on shares of Kinetik in a research report on Tuesday, April 29th. They issued a "neutral" rating and a $49.00 price target on the stock. US Capital Advisors raised shares of Kinetik from a "hold" rating to a "moderate buy" rating in a research note on Monday, April 7th. Barclays upped their price target on shares of Kinetik from $57.00 to $58.00 and gave the company an "equal weight" rating in a report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. lifted their price objective on Kinetik from $63.00 to $65.00 and gave the stock an "overweight" rating in a report on Wednesday, January 15th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $58.56.

Kinetik Trading Down 3.5 %

Shares of NASDAQ:KNTK traded down $1.47 during mid-day trading on Monday, reaching $40.10. The stock had a trading volume of 1,060,048 shares, compared to its average volume of 621,326. The firm has a market cap of $6.33 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 1.52 and a beta of 3.03. The firm has a 50 day simple moving average of $48.40 and a two-hundred day simple moving average of $54.87. Kinetik Holdings Inc. has a twelve month low of $37.85 and a twelve month high of $67.60.

Kinetik Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Friday, April 25th were paid a dividend of $0.78 per share. The ex-dividend date was Friday, April 25th. This represents a $3.12 annualized dividend and a dividend yield of 7.78%. Kinetik's dividend payout ratio is presently 305.88%.

Insider Transactions at Kinetik

In other news, major shareholder Isq Global Fund Ii Gp Llc sold 1,044,519 shares of Kinetik stock in a transaction 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.83% of the stock is owned by corporate insiders.

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.