SG Americas Securities LLC Purchases Shares of 3,268 Kinetik Holdings Inc. (NASDAQ:KNTK)

Posted by Defense World Staff on May 17th, 2023

SG Americas Securities LLC acquired a new position in shares of Kinetik Holdings Inc. (NASDAQ:KNTK – Get Rating) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,268 shares of the company’s stock, valued at approximately $108,000.

Several other institutional investors have also recently bought and sold shares of the business. Ensign Peak Advisors Inc acquired a new position in shares of Kinetik in the 3rd quarter worth approximately $31,000. Metropolitan Life Insurance Co NY bought a new stake in Kinetik during the 3rd quarter valued at $33,000. Tower Research Capital LLC TRC acquired a new position in Kinetik during the third quarter worth $37,000. Nisa Investment Advisors LLC bought a new position in shares of Kinetik in the third quarter valued at $63,000. Finally, Ronald Blue Trust Inc. grew its holdings in shares of Kinetik by 13,375.0% during the fourth quarter. Ronald Blue Trust Inc. now owns 2,156 shares of the company’s stock valued at $70,000 after buying an additional 2,140 shares during the last quarter.

Kinetik Stock Performance

KNTK stock opened at $30.70 on Wednesday. The firm has a fifty day moving average price of $30.68 and a 200 day moving average price of $31.58. Kinetik Holdings Inc. has a fifty-two week low of $26.32 and a fifty-two week high of $44.99. The firm has a market cap of $4.39 billion, a PE ratio of 23.80, a price-to-earnings-growth ratio of 1.36 and a beta of 2.65.

Kinetik (NASDAQ:KNTK – Get Rating) last posted its quarterly earnings results on Monday, February 27th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.25). The business had revenue of $295.49 million during the quarter, compared to the consensus estimate of $248.87 million. Kinetik had a net margin of 4.58% and a negative return on equity of 16.97%. On average, equities analysts predict that Kinetik Holdings Inc. will post 1.64 EPS for the current year.

Kinetik Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 17th. Shareholders of record on Friday, May 5th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 9.77%. The ex-dividend date is Thursday, May 4th. Kinetik’s payout ratio is currently 232.56%.

Insider Activity

In other news, insider Anne Psencik sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $31.48, for a total value of $314,800.00. Following the completion of the sale, the insider now directly owns 178,982 shares in the company, valued at $5,634,353.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Anne Psencik sold 10,000 shares of the company’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $31.48, for a total transaction of $314,800.00. Following the completion of the transaction, the insider now directly owns 178,982 shares of the company’s stock, valued at approximately $5,634,353.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jamie Welch bought 7,000 shares of the business’s stock in a transaction dated Friday, March 31st. The shares were purchased at an average price of $31.13 per share, for a total transaction of $217,910.00. Following the transaction, the insider now directly owns 3,142,233 shares of the company’s stock, valued at approximately $97,817,713.29. The disclosure for this purchase can be found here. Insiders sold 30,827 shares of company stock worth $952,808 over the last three months. 3.51% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on KNTK. Wolfe Research began coverage on shares of Kinetik in a report on Monday, May 1st. They issued a “market perform” rating on the stock. Mizuho reduced their price objective on Kinetik from $40.00 to $37.00 and set a “buy” rating for the company in a report on Monday, February 27th. Scotiabank initiated coverage on Kinetik in a research report on Thursday, March 2nd. They set a “sector perform” rating and a $34.00 price target on the stock. Raymond James began coverage on Kinetik in a research note on Friday, April 21st. They issued a “market perform” rating on the stock. Finally, Citigroup dropped their price target on shares of Kinetik from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Tuesday, March 14th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Kinetik presently has an average rating of “Hold” and a consensus price target of $37.50.

Kinetik Profile

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Kinetik Holdings, Inc provides oil and gas production and distribution services. It operates through the Midstream Logistics and Pipeline Transportation segments. The Midstream Logistics segment is involved in the following service offerings: gas gathering and processing, crude oil gathering, stabilization and storage services, and water gathering and disposal.