Diversify Advisory Services LLC Takes $269,000 Position in Kinetik Holdings Inc. (NASDAQ:KNTK)

Diversify Advisory Services LLC acquired a new stake in shares of Kinetik Holdings Inc. (NASDAQ:KNTK - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 4,448 shares of the company's stock, valued at approximately $269,000.

A number of other hedge funds have also recently bought and sold shares of KNTK. GAMMA Investing LLC boosted its stake in shares of Kinetik by 72.0% in the 4th quarter. GAMMA Investing LLC now owns 509 shares of the company's stock worth $29,000 after buying an additional 213 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in Kinetik in the third quarter worth $46,000. Blue Trust Inc. boosted its holdings in shares of Kinetik by 244.9% in the 3rd quarter. Blue Trust Inc. now owns 3,801 shares of the company's stock worth $158,000 after buying an additional 2,699 shares during the last quarter. CWM LLC boosted its holdings in shares of Kinetik by 2,030.9% in the 3rd quarter. CWM LLC now owns 3,793 shares of the company's stock worth $172,000 after buying an additional 3,615 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new position in shares of Kinetik in the 2nd quarter worth about $187,000. 21.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KNTK has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their target price on shares of Kinetik from $46.00 to $52.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. upped their price objective on Kinetik from $63.00 to $65.00 and gave the company an "overweight" rating in a research note on Wednesday, January 15th. The Goldman Sachs Group upped their price objective on Kinetik from $46.00 to $61.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Barclays upped their price target on Kinetik from $47.00 to $61.00 and gave the company an "equal weight" rating in a research report on Monday, January 13th. Finally, Scotiabank dropped their price target on Kinetik from $64.00 to $62.00 and set a "sector outperform" rating on the stock in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.25.

Kinetik Trading Up 1.1 %

Shares of Kinetik stock traded up $0.73 on Thursday, reaching $65.93. The stock had a trading volume of 610,649 shares, compared to its average volume of 631,760. Kinetik Holdings Inc. has a 1 year low of $31.73 and a 1 year high of $67.60. The company has a market cap of $10.39 billion, a P/E ratio of 24.33, a price-to-earnings-growth ratio of 1.84 and a beta of 2.91. The business's 50 day moving average is $59.15 and its two-hundred day moving average is $50.48.

Kinetik (NASDAQ:KNTK - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.35 earnings per share 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 during the quarter, compared to analysts' expectations of $331.21 million. During the same period in the previous year, the business earned $0.21 EPS. The business's revenue was up 20.0% on a year-over-year basis. On average, equities analysts anticipate that Kinetik Holdings Inc. will post 1.35 EPS for the current fiscal year.

Kinetik Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Monday, February 3rd will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 4.73%. The ex-dividend date is Monday, February 3rd. Kinetik's dividend payout ratio is presently 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.