Fox Run Management L.L.C. Buys Shares of 9,923 Kinetik Holdings Inc. (NASDAQ:KNTK)

Fox Run Management L.L.C. purchased a new stake in shares of Kinetik Holdings Inc. (NASDAQ:KNTK) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 9,923 shares of the company’s stock, valued at approximately $563,000.

Other institutional investors have also modified their holdings of the company. Barclays PLC raised its holdings in Kinetik by 34.5% during the third quarter. Barclays PLC now owns 234,286 shares of the company’s stock worth $10,603,000 after purchasing an additional 60,058 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Kinetik by 14,124.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 13,940 shares of the company’s stock valued at $820,000 after buying an additional 13,842 shares in the last quarter. Principal Financial Group Inc. acquired a new position in shares of Kinetik during the 3rd quarter worth $921,000. Geode Capital Management LLC boosted its position in shares of Kinetik by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 877,887 shares of the company’s stock worth $39,742,000 after buying an additional 13,644 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Kinetik by 53.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 157,858 shares of the company’s stock valued at $7,145,000 after acquiring an additional 55,050 shares during the last quarter. Hedge funds and other institutional investors own 21.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Scotiabank reduced 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. Citigroup upped their target price on Kinetik from $54.00 to $58.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. 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 cut 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, JPMorgan Chase & Co. increased their price objective on Kinetik from $63.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.63.

Kinetik Trading Up 1.7 %

Kinetik stock opened at $53.61 on Tuesday. The stock has a fifty day moving average price of $59.35 and a 200 day moving average price of $55.26. Kinetik Holdings Inc. has a 52 week low of $37.65 and a 52 week high of $67.60. The firm has a market capitalization of $8.46 billion, a P/E ratio of 19.78, a PEG ratio of 1.52 and a beta of 2.85.

Kinetik Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders 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 5.82%. The ex-dividend date was Monday, February 3rd. Kinetik’s dividend payout ratio is currently 305.88%.

Insider Transactions at Kinetik

In other news, major shareholder Isq Global Fund Ii Gp Llc sold 1,044,519 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $52.66, for a total transaction of $55,004,370.54. Following the completion of the sale, the insider now directly owns 657,583 shares in the company, valued at $34,628,320.78. This represents a 61.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 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.