Mutual Advisors LLC Lowers Holdings in Kinetik Holdings Inc. (NASDAQ:KNTK)

Mutual Advisors LLC trimmed its holdings in Kinetik Holdings Inc. (NASDAQ:KNTK) by 40.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,267 shares of the company’s stock after selling 2,216 shares during the period. Mutual Advisors LLC’s holdings in Kinetik were worth $185,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of Kinetik by 1.6% in the third quarter. Geode Capital Management LLC now owns 877,887 shares of the company’s stock worth $39,742,000 after acquiring an additional 13,644 shares during the period. Merewether Investment Management LP raised its position in shares of Kinetik by 56.6% in the third quarter. Merewether Investment Management LP now owns 662,300 shares of the company’s stock worth $29,976,000 after acquiring an additional 239,500 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Kinetik by 70.3% in the second quarter. Dimensional Fund Advisors LP now owns 456,740 shares of the company’s stock worth $18,927,000 after acquiring an additional 188,533 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in shares of Kinetik by 15.7% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 398,136 shares of the company’s stock worth $18,020,000 after acquiring an additional 54,000 shares during the period. Finally, Point72 Asset Management L.P. raised its position in shares of Kinetik by 30.6% in the third quarter. Point72 Asset Management L.P. now owns 352,558 shares of the company’s stock worth $15,957,000 after acquiring an additional 82,600 shares during the period. 21.11% of the stock is owned by hedge funds and other institutional investors.

Kinetik Trading Up 2.2 %

Shares of NASDAQ KNTK opened at $64.80 on Thursday. Kinetik Holdings Inc. has a 12-month low of $31.73 and a 12-month high of $67.60. The stock has a market cap of $10.21 billion, a PE ratio of 23.91, a P/E/G ratio of 1.80 and a beta of 2.91. The company has a 50-day moving average of $59.51 and a 200 day moving average of $51.15.

Kinetik (NASDAQ:KNTK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.10). Kinetik had a net margin of 30.25% and a negative return on equity of 39.48%. The business had revenue of $396.40 million for the quarter, compared to analysts’ expectations of $331.21 million. During the same period in the prior year, the company posted $0.21 EPS. The firm’s revenue was up 20.0% on a year-over-year basis. On average, sell-side analysts forecast that Kinetik Holdings Inc. will post 1.35 EPS for the current fiscal year.

Kinetik Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Monday, February 3rd will be paid a $0.78 dividend. The ex-dividend date is Monday, February 3rd. This represents a $3.12 annualized dividend and a dividend yield of 4.81%. Kinetik’s dividend payout ratio (DPR) is 115.13%.

Analysts Set New Price Targets

KNTK has been the subject of several research analyst reports. Citigroup upped their price target on shares of Kinetik from $54.00 to $58.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Wells Fargo & Company upped their price target 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 price target on shares of Kinetik from $63.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 15th. The Goldman Sachs Group upped their price target 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, Mizuho upped their price target on shares of Kinetik from $47.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $59.25.

Kinetik 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.