Geneos Wealth Management Inc. Acquires Shares of 20,178 Kinetik Holdings Inc. $KNTK

Geneos Wealth Management Inc. bought a new position in Kinetik Holdings Inc. (NYSE:KNTK) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,178 shares of the company’s stock, valued at approximately $862,000.

A number of other institutional investors have also recently made changes to their positions in KNTK. Federated Hermes Inc. raised its holdings in Kinetik by 0.4% in the 2nd quarter. Federated Hermes Inc. now owns 89,133 shares of the company’s stock worth $3,926,000 after acquiring an additional 346 shares during the last quarter. SL Advisors LLC increased its holdings in shares of Kinetik by 1.7% in the 3rd quarter. SL Advisors LLC now owns 22,306 shares of the company’s stock worth $953,000 after purchasing an additional 379 shares in the last quarter. Apollon Wealth Management LLC raised its stake in shares of Kinetik by 6.9% in the third quarter. Apollon Wealth Management LLC now owns 5,990 shares of the company’s stock worth $256,000 after purchasing an additional 388 shares during the last quarter. Rossby Financial LCC lifted its holdings in shares of Kinetik by 33.5% during the second quarter. Rossby Financial LCC now owns 2,006 shares of the company’s stock valued at $88,000 after purchasing an additional 503 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Kinetik by 4.2% during the first quarter. AQR Capital Management LLC now owns 12,900 shares of the company’s stock valued at $670,000 after purchasing an additional 522 shares in the last quarter. Hedge funds and other institutional investors own 21.11% of the company’s stock.

Insiders Place Their Bets

In related news, insider Matthew Wall sold 8,083 shares of Kinetik stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $36.05, for a total transaction of $291,392.15. Following the transaction, the insider directly owned 554,738 shares in the company, valued at approximately $19,998,304.90. The trade was a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jamie Welch purchased 8,000 shares of the business’s stock in a transaction on Monday, November 10th. The shares were bought at an average cost of $34.57 per share, with a total value of $276,560.00. Following the acquisition, the insider directly owned 3,687,791 shares of the company’s stock, valued at $127,486,934.87. This trade represents a 0.22% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 3.83% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on KNTK. Zacks Research downgraded Kinetik from a “hold” rating to a “strong sell” rating in a report on Monday, January 5th. Wolfe Research reiterated an “outperform” rating and issued a $42.00 price target on shares of Kinetik in a research note on Friday, November 7th. Mizuho set a $48.00 price objective on shares of Kinetik in a report on Wednesday, October 29th. Royal Bank Of Canada dropped their target price on shares of Kinetik from $52.00 to $46.00 and set an “outperform” rating on the stock in a report on Wednesday, November 19th. Finally, Citigroup cut their target price on shares of Kinetik from $55.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, November 21st. Nine research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Kinetik presently has a consensus rating of “Moderate Buy” and an average price target of $47.17.

Kinetik Trading Up 0.3%

KNTK opened at $36.59 on Friday. The company’s 50 day moving average is $35.18 and its 200 day moving average is $39.19. The company has a market cap of $5.91 billion, a price-to-earnings ratio of 87.12, a PEG ratio of 0.67 and a beta of 0.73. Kinetik Holdings Inc. has a 12-month low of $31.33 and a 12-month high of $67.60.

Kinetik (NYSE:KNTK) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.20). Kinetik had a negative return on equity of 5.74% and a net margin of 6.70%.The business had revenue of $463.97 million during the quarter, compared to the consensus estimate of $604.57 million. During the same quarter in the previous year, the business posted $0.35 earnings per share. The firm’s revenue was up 17.1% on a year-over-year basis.

Kinetik Company Profile

Kinetik (NYSE: KNTK) is a publicly listed midstream energy company focused on the development, operation and management of natural gas infrastructure across the United States. The company’s core business activities include the gathering, compression, processing, storage and transportation of natural gas, serving producers, utilities and industrial consumers. By integrating a suite of midstream services under a single platform, Kinetik aims to provide efficient, cost-effective and reliable solutions across the natural gas value chain.

The company was established in 2021 when assets were acquired from Talen Energy by a subsidiary of ArcLight Capital Partners, forming a comprehensive portfolio of pipelines, compression facilities and underground storage assets.