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

Quantbot Technologies LP increased its stake in shares of Kinetik Holdings Inc. (NASDAQ:KNTK) by 6.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,161 shares of the company’s stock after purchasing an additional 3,595 shares during the quarter. Quantbot Technologies LP’s holdings in Kinetik were worth $3,298,000 at the end of the most recent quarter.

Several 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% during the 4th quarter. Harbor Capital Advisors Inc. now owns 9,088 shares of the company’s stock worth $515,000 after purchasing an additional 174 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Kinetik by 72.0% during the 4th quarter. GAMMA Investing LLC now owns 509 shares of the company’s stock worth $29,000 after buying an additional 213 shares during the last quarter. Private Advisor Group LLC lifted its holdings in Kinetik by 5.3% during the 4th quarter. Private Advisor Group LLC now owns 8,859 shares of the company’s stock worth $502,000 after buying an additional 448 shares during the last quarter. Fifth Third Bancorp purchased a new stake in Kinetik during the 4th quarter worth about $26,000. Finally, Canton Hathaway LLC purchased a new stake in Kinetik during the 4th quarter worth about $28,000. 21.11% of the stock is owned by institutional investors and hedge funds.

Kinetik Stock Performance

Kinetik stock opened at $52.64 on Friday. The stock has a 50-day simple moving average of $59.49 and a 200-day simple moving average of $55.12. The company has a market capitalization of $8.31 billion, a P/E ratio of 19.42, a PEG ratio of 1.52 and a beta of 2.85. Kinetik Holdings Inc. has a fifty-two week low of $37.65 and a fifty-two week high of $67.60.

Kinetik Announces Dividend

The business also recently disclosed 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 annualized dividend and a 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 Ratings Changes

A number of analysts have issued reports on the company. Citigroup lifted their price target on Kinetik from $54.00 to $58.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. The Goldman Sachs Group lifted their price target on Kinetik from $46.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Scotiabank decreased their price target on Kinetik from $62.00 to $60.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. Barclays decreased their price target on Kinetik from $61.00 to $57.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. Finally, Royal Bank of Canada reduced their target price on Kinetik from $67.00 to $63.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Kinetik presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.63.

Insider Buying and Selling at Kinetik

In other Kinetik news, major shareholder Isq Global Fund Ii Gp Llc sold 3,952,431 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $55.63, for a total transaction of $219,873,736.53. Following the completion of the sale, the insider now directly owns 1,044,520 shares of the company’s stock, valued at $58,106,647.60. This represents a 79.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.71% of the stock is owned by company insiders.

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.