Kinetik Holdings Inc. (NASDAQ:KNTK) Shares Sold by Graham Capital Wealth Management LLC

Graham Capital Wealth Management LLC decreased its holdings in Kinetik Holdings Inc. (NASDAQ:KNTK) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 48,834 shares of the company’s stock after selling 309 shares during the quarter. Kinetik accounts for about 2.5% of Graham Capital Wealth Management LLC’s investment portfolio, making the stock its 15th largest position. Graham Capital Wealth Management LLC’s holdings in Kinetik were worth $2,769,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. grew its holdings in shares of Kinetik by 2.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 9,088 shares of the company’s stock valued at $515,000 after acquiring an additional 174 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Kinetik by 72.0% during the 4th quarter. GAMMA Investing LLC now owns 509 shares of the company’s stock valued at $29,000 after acquiring an additional 213 shares in the last quarter. Fifth Third Bancorp purchased a new position in shares of Kinetik during the 4th quarter valued at $26,000. Blue Trust Inc. grew its holdings in shares of Kinetik by 18.1% during the 4th quarter. Blue Trust Inc. now owns 4,488 shares of the company’s stock valued at $255,000 after acquiring an additional 687 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Kinetik by 0.9% during the 4th quarter. Exchange Traded Concepts LLC now owns 81,230 shares of the company’s stock valued at $4,607,000 after acquiring an additional 739 shares in the last quarter. Institutional investors and hedge funds own 21.11% of the company’s stock.

Wall Street Analysts Forecast Growth

KNTK has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their target price on shares of Kinetik from $58.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. upped their target price on shares of Kinetik from $63.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, January 15th. Barclays upped their price objective on shares of Kinetik from $47.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. The Goldman Sachs Group upped their target price on shares of Kinetik from $46.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Royal Bank of Canada increased their price objective on shares of Kinetik from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Kinetik has an average rating of “Moderate Buy” and an average price target of $59.25.

Kinetik Stock Performance

Shares of NASDAQ KNTK opened at $64.44 on Monday. The company has a market capitalization of $10.15 billion, a P/E ratio of 23.77, a price-to-earnings-growth ratio of 1.67 and a beta of 2.89. Kinetik Holdings Inc. has a 52-week low of $31.73 and a 52-week high of $67.60. The company’s 50 day moving average price is $59.64 and its 200-day moving average price is $51.52.

Kinetik (NASDAQ:KNTK) last released its earnings results on Wednesday, November 6th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.10). The company had revenue of $396.40 million for the quarter, compared to analyst estimates of $331.21 million. Kinetik had a net margin of 30.25% and a negative return on equity of 39.48%. The firm’s revenue was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.21 EPS. Analysts forecast that Kinetik Holdings Inc. will post 1.96 earnings per share for the current year.

Kinetik Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Monday, February 3rd will be given a dividend of $0.78 per share. The ex-dividend date is Monday, February 3rd. This represents a $3.12 annualized dividend and a yield of 4.84%. Kinetik’s payout ratio is currently 115.13%.

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.