Barclays PLC Decreases Stock Holdings in Kinetik Holdings Inc. (NASDAQ:KNTK)

Barclays PLC lessened its stake in shares of Kinetik Holdings Inc. (NASDAQ:KNTK - Free Report) by 8.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 214,357 shares of the company's stock after selling 19,929 shares during the period. Barclays PLC owned 0.14% of Kinetik worth $12,156,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Sterling Capital Management LLC lifted its holdings in shares of Kinetik by 789.4% during the 4th quarter. Sterling Capital Management LLC now owns 1,094 shares of the company's stock worth $62,000 after acquiring an additional 971 shares during the period. CenterBook Partners LP increased its stake in shares of Kinetik by 36.8% in the 4th quarter. CenterBook Partners LP now owns 55,279 shares of the company's stock valued at $3,135,000 after purchasing an additional 14,879 shares during the last quarter. FIL Ltd acquired a new position in shares of Kinetik during the 4th quarter worth $3,004,000. Legal & General Group Plc boosted its stake in Kinetik by 13.5% in the fourth quarter. Legal & General Group Plc now owns 42,201 shares of the company's stock valued at $2,393,000 after buying an additional 5,034 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Kinetik by 3.0% in the fourth quarter. Invesco Ltd. now owns 1,247,843 shares of the company's stock worth $70,765,000 after acquiring an additional 36,362 shares during the last quarter. Institutional investors own 21.11% of the company's stock.

Kinetik Trading Up 3.4 %

Shares of KNTK traded up $1.41 during trading hours on Thursday, reaching $43.25. The stock had a trading volume of 710,240 shares, compared to its average volume of 610,521. The firm has a 50-day simple moving average of $50.80 and a 200 day simple moving average of $55.12. Kinetik Holdings Inc. has a 12 month low of $37.65 and a 12 month high of $67.60. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of 15.96, a P/E/G ratio of 1.52 and a beta of 2.68.

Kinetik Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 25th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 7.21%. The ex-dividend date is Friday, April 25th. Kinetik's dividend payout ratio is currently 305.88%.

Wall Street Analysts Forecast Growth

KNTK has been the topic of a number of recent research reports. Royal Bank of Canada cut their price target on shares of Kinetik from $67.00 to $63.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. US Capital Advisors raised shares of Kinetik from a "hold" rating to a "moderate buy" rating in a research note on Monday, April 7th. JPMorgan Chase & Co. boosted their target price on shares of Kinetik from $63.00 to $65.00 and gave the company an "overweight" rating in a report on Wednesday, January 15th. Wells Fargo & Company dropped their price objective on Kinetik from $60.00 to $58.00 and set an "equal weight" rating on the stock in a research note on Friday, February 28th. Finally, Scotiabank lowered their target price on Kinetik from $62.00 to $60.00 and set a "sector outperform" rating for the company in a report on Thursday, March 6th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $59.75.

Insider Transactions at Kinetik

In related news, major shareholder Isq Global Fund Ii Gp Llc sold 1,044,519 shares of Kinetik stock in a transaction that occurred 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 transaction, the insider now owns 657,583 shares of the company's stock, valued at $34,628,320.78. The trade was a 61.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.83% of the stock is currently owned by insiders.

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.