Jump Financial LLC Increases Stock Position in Kinetik Holdings Inc. (NASDAQ:KNTK)

Jump Financial LLC raised its stake in Kinetik Holdings Inc. (NASDAQ:KNTK - Free Report) by 73.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,880 shares of the company's stock after acquiring an additional 17,778 shares during the quarter. Jump Financial LLC's holdings in Kinetik were worth $2,375,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Pictet Asset Management Holding SA boosted its position in shares of Kinetik by 8,475.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 431,003 shares of the company's stock worth $24,442,000 after acquiring an additional 425,977 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of Kinetik by 391.1% during the 4th quarter. Prudential Financial Inc. now owns 392,343 shares of the company's stock valued at $22,250,000 after purchasing an additional 312,458 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Kinetik during the 4th quarter valued at about $11,241,000. Bornite Capital Management LP boosted its position in shares of Kinetik by 25.1% during the 4th quarter. Bornite Capital Management LP now owns 438,000 shares of the company's stock valued at $24,839,000 after purchasing an additional 88,000 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Kinetik by 54.1% in the fourth quarter. JPMorgan Chase & Co. now owns 243,236 shares of the company's stock worth $13,794,000 after acquiring an additional 85,378 shares in the last quarter. 21.11% of the stock is owned by institutional investors.

Kinetik Price Performance

NASDAQ KNTK traded up $1.61 during midday trading on Thursday, hitting $43.45. 183,828 shares of the company traded hands, compared to its average volume of 608,208. The company 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 Holdings Inc. has a 52 week low of $37.65 and a 52 week high of $67.60. The company's 50-day simple moving average is $50.80 and its 200-day simple moving average is $55.12.

Kinetik Dividend Announcement

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 paid a dividend of $0.78 per share. The ex-dividend date is Friday, April 25th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 7.18%. Kinetik's payout ratio is currently 305.88%.

Analyst Ratings Changes

A number of analysts recently commented on KNTK shares. US Capital Advisors upgraded Kinetik from a "hold" rating to a "moderate buy" rating in a report on Monday, April 7th. Wells Fargo & Company reduced their price target on shares of Kinetik from $60.00 to $58.00 and set an "equal weight" rating on the stock in a research report on Friday, February 28th. Scotiabank cut their target price on shares of Kinetik from $62.00 to $60.00 and set a "sector outperform" rating on the stock in a report on Thursday, March 6th. Barclays raised their price target on Kinetik from $57.00 to $58.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 16th. Finally, Royal Bank of Canada lowered their price objective on Kinetik from $67.00 to $63.00 and set an "outperform" rating for the company in a research report on Thursday, March 13th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $59.75.

Insider Activity

In other news, major shareholder Isq Global Fund Ii Gp Llc sold 1,044,519 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $52.66, for a total transaction of $55,004,370.54. Following the completion of the transaction, the insider now directly owns 657,583 shares in the company, valued at approximately $34,628,320.78. This represents a 61.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.83% of the company's stock.

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.