XTX Topco Ltd Takes $650,000 Position in Kinetik Holdings Inc. (NASDAQ:KNTK)

XTX Topco Ltd acquired a new position in shares of Kinetik Holdings Inc. (NASDAQ:KNTK - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,455 shares of the company's stock, valued at approximately $650,000.

A number of other institutional investors have also made changes to their positions in KNTK. Stifel Financial Corp acquired a new stake in shares of Kinetik during the third quarter worth $202,000. Barclays PLC grew its stake in Kinetik by 34.5% in the third quarter. Barclays PLC now owns 234,286 shares of the company's stock valued at $10,603,000 after acquiring an additional 60,058 shares during the period. Geode Capital Management LLC grew its stake in Kinetik by 1.6% in the third quarter. Geode Capital Management LLC now owns 877,887 shares of the company's stock valued at $39,742,000 after acquiring an additional 13,644 shares during the period. Principal Financial Group Inc. acquired a new position in Kinetik in the third quarter valued at about $921,000. Finally, JPMorgan Chase & Co. grew its stake in Kinetik by 53.5% in the third quarter. JPMorgan Chase & Co. now owns 157,858 shares of the company's stock valued at $7,145,000 after acquiring an additional 55,050 shares during the period. 21.11% of the stock is owned by institutional investors and hedge funds.

Kinetik Stock Performance

KNTK traded up $1.60 during trading hours on Thursday, reaching $43.44. The company's stock had a trading volume of 183,828 shares, compared to its average volume of 608,199. The company's 50-day moving average is $50.80 and its 200-day moving average is $55.12. Kinetik Holdings Inc. has a 52 week low of $37.65 and a 52 week high of $67.60. The firm has a market cap of $6.85 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 1.52 and a beta of 2.68.

Kinetik Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Friday, April 25th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $3.12 dividend on an annualized basis and a yield of 7.18%. Kinetik's dividend payout ratio (DPR) is 305.88%.

Analysts Set New Price Targets

A number of research analysts have issued reports on KNTK shares. JPMorgan Chase & Co. boosted their target price on Kinetik from $63.00 to $65.00 and gave the company an "overweight" rating in a research note on Wednesday, January 15th. Wells Fargo & Company decreased their target price on Kinetik from $60.00 to $58.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. Scotiabank decreased their target price on Kinetik from $62.00 to $60.00 and set a "sector outperform" rating for the company in a research note on Thursday, March 6th. Barclays upped their price objective on Kinetik from $57.00 to $58.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 16th. Finally, US Capital Advisors raised Kinetik from a "hold" rating to a "moderate buy" rating in a research report on Monday, April 7th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Kinetik has a consensus rating of "Moderate Buy" and an average price target of $59.75.

Insider Activity

In related news, major shareholder Isq Global Fund Ii Gp Llc sold 3,952,431 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $55.63, for a total value of $219,873,736.53. Following the completion of the transaction, the insider now owns 1,044,520 shares of the company's stock, valued at $58,106,647.60. The trade was a 79.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.83% of the stock is currently owned by company insiders.

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.