Diversify Advisory Services LLC Buys New Shares in Kinetik Holdings Inc. (NASDAQ:KNTK)

Diversify Advisory Services LLC purchased a new stake in shares of Kinetik Holdings Inc. (NASDAQ:KNTK) during the fourth quarter, Holdings Channel reports. The firm purchased 4,448 shares of the company’s stock, valued at approximately $269,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised 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 buying an additional 213 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Kinetik during the third quarter valued at approximately $46,000. Blue Trust Inc. raised its stake in shares of Kinetik by 244.9% during the third quarter. Blue Trust Inc. now owns 3,801 shares of the company’s stock worth $158,000 after acquiring an additional 2,699 shares in the last quarter. CWM LLC raised its stake in shares of Kinetik by 2,030.9% during the third quarter. CWM LLC now owns 3,793 shares of the company’s stock worth $172,000 after acquiring an additional 3,615 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new stake in shares of Kinetik in the 2nd quarter worth approximately $187,000. Institutional investors own 21.11% of the company’s stock.

Kinetik Trading Down 1.9 %

Shares of Kinetik stock opened at $65.23 on Thursday. Kinetik Holdings Inc. has a 12-month low of $31.73 and a 12-month high of $67.60. The company has a market cap of $10.28 billion, a P/E ratio of 24.07, a PEG ratio of 1.80 and a beta of 2.91. The company’s fifty day simple moving average is $58.97 and its two-hundred day simple moving average is $50.38.

Kinetik (NASDAQ:KNTK) last released its quarterly 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 during the quarter, compared to the consensus estimate of $331.21 million. Kinetik had a negative return on equity of 39.48% and a net margin of 30.25%. Kinetik’s quarterly revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 earnings per share. Analysts predict that Kinetik Holdings Inc. will post 1.35 EPS for the current fiscal year.

Kinetik Announces Dividend

The company 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. This represents a $3.12 annualized dividend and a dividend yield of 4.78%. Kinetik’s dividend payout ratio is presently 115.13%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on KNTK shares. The Goldman Sachs Group lifted 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. Citigroup lifted their price objective on Kinetik from $54.00 to $58.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Scotiabank dropped their target price on Kinetik from $64.00 to $62.00 and set a “sector outperform” rating for the company in a report on Tuesday. Barclays lifted their price target on Kinetik from $47.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Finally, Mizuho raised their target price on shares of Kinetik from $47.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Kinetik has an average rating of “Moderate Buy” and a consensus price target of $59.25.

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.