Chickasaw Capital Management LLC Purchases 39,013 Shares of Kinetik Holdings Inc. $KNTK

Chickasaw Capital Management LLC grew its position in Kinetik Holdings Inc. (NYSE:KNTK) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,137,460 shares of the company’s stock after purchasing an additional 39,013 shares during the period. Kinetik comprises about 1.7% of Chickasaw Capital Management LLC’s portfolio, making the stock its 12th largest position. Chickasaw Capital Management LLC owned approximately 0.70% of Kinetik worth $41,005,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new stake in shares of Kinetik in the 3rd quarter valued at $54,000. Advisory Services Network LLC bought a new position in Kinetik during the third quarter worth about $55,000. GAMMA Investing LLC lifted its holdings in Kinetik by 569.6% during the fourth quarter. GAMMA Investing LLC now owns 1,761 shares of the company’s stock worth $63,000 after acquiring an additional 1,498 shares in the last quarter. Fifth Third Bancorp grew its stake in Kinetik by 269.2% in the third quarter. Fifth Third Bancorp now owns 1,569 shares of the company’s stock valued at $67,000 after acquiring an additional 1,144 shares during the period. Finally, Comerica Bank grew its stake in Kinetik by 91.5% in the first quarter. Comerica Bank now owns 1,532 shares of the company’s stock valued at $80,000 after acquiring an additional 732 shares during the period. 21.11% of the stock is owned by institutional investors.

Kinetik Price Performance

KNTK opened at $45.74 on Tuesday. The company has a market capitalization of $7.39 billion, a price-to-earnings ratio of 17.80, a P/E/G ratio of 1.45 and a beta of 0.70. The business’s 50-day moving average price is $42.68 and its two-hundred day moving average price is $39.37. Kinetik Holdings Inc. has a 1 year low of $31.33 and a 1 year high of $54.94.

Kinetik (NYSE:KNTK) last posted its quarterly earnings data on Thursday, February 26th. The company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $0.15 by $2.01. Kinetik had a negative return on equity of 32.70% and a net margin of 29.23%.The company had revenue of $430.42 million during the quarter. During the same period in the prior year, the company earned $0.01 earnings per share. The firm’s quarterly revenue was up 11.5% on a year-over-year basis.

Insider Transactions at Kinetik

In other news, insider Matthew Wall sold 8,083 shares of Kinetik stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $36.05, for a total value of $291,392.15. Following the sale, the insider directly owned 554,738 shares in the company, valued at $19,998,304.90. This trade represents 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 available at the SEC website. Also, major shareholder Isq Global Fund Ii Gp Llc sold 4,000,000 shares of the business’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $44.85, for a total transaction of $179,400,000.00. Following the completion of the sale, the insider directly owned 1 shares in the company, valued at approximately $44.85. This represents a 100.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 4,015,831 shares of company stock worth $180,054,928. Insiders own 3.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Jefferies Financial Group lowered Kinetik from a “buy” rating to a “hold” rating and set a $43.00 price target on the stock. in a research report on Friday, February 6th. Zacks Research lowered Kinetik from a “hold” rating to a “strong sell” rating in a research report on Monday, January 5th. Scotiabank increased their target price on Kinetik from $49.00 to $51.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, March 17th. Raymond James Financial set a $46.00 target price on shares of Kinetik in a report on Monday, January 5th. Finally, Citigroup lifted their price target on shares of Kinetik from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Kinetik presently has an average rating of “Hold” and a consensus target price of $46.27.

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.