Gilman Hill Asset Management LLC cut its holdings in Kinetik Holdings Inc. (NASDAQ:KNTK - Free Report) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 233,153 shares of the company's stock after selling 11,371 shares during the period. Kinetik comprises 2.3% of Gilman Hill Asset Management LLC's holdings, making the stock its 2nd largest holding. Gilman Hill Asset Management LLC owned approximately 0.15% of Kinetik worth $13,222,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in KNTK. Geode Capital Management LLC lifted its position in Kinetik by 1.6% in the third quarter. Geode Capital Management LLC now owns 877,887 shares of the company's stock worth $39,742,000 after buying an additional 13,644 shares during the last quarter. Merewether Investment Management LP lifted its holdings in shares of Kinetik by 56.6% in the 3rd quarter. Merewether Investment Management LP now owns 662,300 shares of the company's stock worth $29,976,000 after acquiring an additional 239,500 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Kinetik by 70.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 456,740 shares of the company's stock worth $18,927,000 after purchasing an additional 188,533 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in Kinetik by 15.7% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 398,136 shares of the company's stock valued at $18,020,000 after purchasing an additional 54,000 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its position in Kinetik by 30.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 352,558 shares of the company's stock worth $15,957,000 after purchasing an additional 82,600 shares during the period. 21.11% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on KNTK shares. Barclays boosted their target price on Kinetik from $47.00 to $61.00 and gave the company an "equal weight" rating in a research report on Monday, January 13th. Mizuho upped their price objective on Kinetik from $47.00 to $55.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Scotiabank initiated coverage on Kinetik in a research report on Friday, January 10th. They set a "sector outperform" rating and a $64.00 target price for the company. Wells Fargo & Company upped their price target on shares of Kinetik from $58.00 to $60.00 and gave the stock an "equal weight" rating in a report on Wednesday, December 18th. Finally, Royal Bank of Canada lifted their price objective on shares of Kinetik from $46.00 to $52.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Kinetik has an average rating of "Moderate Buy" and an average target price of $59.50.
Check Out Our Latest Report on Kinetik
Kinetik Stock Performance
KNTK traded up $0.69 on Monday, hitting $65.29. The company had a trading volume of 549,555 shares, compared to its average volume of 511,822. The stock has a market capitalization of $10.28 billion, a price-to-earnings ratio of 24.09, a P/E/G ratio of 1.67 and a beta of 2.91. The stock has a fifty day moving average price of $58.42 and a 200-day moving average price of $49.94. Kinetik Holdings Inc. has a 12-month low of $31.73 and a 12-month high of $65.39.
Kinetik (NASDAQ:KNTK - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.10). Kinetik had a negative return on equity of 39.48% and a net margin of 30.25%. The business had revenue of $396.40 million during the quarter, compared to analyst estimates of $331.21 million. During the same period in the previous year, the business earned $0.21 EPS. The firm's revenue for the quarter was up 20.0% compared to the same quarter last year. Analysts forecast that Kinetik Holdings Inc. will post 1.35 EPS for the current fiscal year.
Kinetik Company Profile
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Free Report)
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.
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