Kinetik Holdings Inc. (NASDAQ:KNTK) Shares Bought by Quantbot Technologies LP

Quantbot Technologies LP grew its holdings in shares of Kinetik Holdings Inc. (NASDAQ:KNTK) by 6.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 58,161 shares of the company’s stock after buying an additional 3,595 shares during the period. Quantbot Technologies LP’s holdings in Kinetik were worth $3,298,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fifth Third Bancorp acquired a new stake in shares of Kinetik in the 4th quarter worth approximately $26,000. Canton Hathaway LLC acquired a new stake in shares of Kinetik in the 4th quarter worth approximately $28,000. GAMMA Investing LLC grew its holdings in shares of Kinetik by 72.0% in the 4th 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 acquired a new stake in shares of Kinetik in the 4th quarter worth approximately $34,000. Finally, EverSource Wealth Advisors LLC acquired a new stake in shares of Kinetik in the 4th quarter worth approximately $67,000. Institutional investors and hedge funds own 21.11% of the company’s stock.

Kinetik Stock Down 2.0 %

Shares of Kinetik stock opened at $52.64 on Friday. Kinetik Holdings Inc. has a fifty-two week low of $37.65 and a fifty-two week high of $67.60. The firm has a market cap of $8.31 billion, a PE ratio of 19.42, a P/E/G ratio of 1.52 and a beta of 2.85. The business’s fifty day moving average is $59.49 and its two-hundred day moving average is $55.12.

Kinetik Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Monday, February 3rd were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 5.93%. The ex-dividend date of this dividend was Monday, February 3rd. Kinetik’s dividend payout ratio is presently 305.88%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on KNTK. Royal Bank of Canada lowered their target price on Kinetik from $67.00 to $63.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Barclays lowered their target price on Kinetik from $61.00 to $57.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. JPMorgan Chase & Co. increased their target price on Kinetik from $63.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, January 15th. The Goldman Sachs Group increased their target price on Kinetik from $46.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Citigroup increased their target price on Kinetik from $54.00 to $58.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.63.

Insiders Place Their Bets

In related news, major shareholder Isq Global Fund Ii Gp Llc sold 3,952,431 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $55.63, for a total value of $219,873,736.53. Following the transaction, the insider now directly owns 1,044,520 shares of the company’s stock, valued at approximately $58,106,647.60. This trade represents a 79.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.71% of the company’s stock.

Kinetik Company 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.