Waterloo Capital L.P. Sells 875 Shares of Kinetik Holdings Inc. (NASDAQ:KNTK)

Waterloo Capital L.P. lowered its position in Kinetik Holdings Inc. (NASDAQ:KNTK) by 5.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 15,175 shares of the company’s stock after selling 875 shares during the period. Waterloo Capital L.P.’s holdings in Kinetik were worth $861,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in KNTK. Charles Schwab Investment Management Inc. grew its stake in Kinetik by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 307,929 shares of the company’s stock valued at $13,937,000 after acquiring an additional 9,882 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Kinetik by 14.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,867 shares of the company’s stock valued at $356,000 after purchasing an additional 983 shares during the period. Janus Henderson Group PLC increased its stake in Kinetik by 21.4% during the 3rd quarter. Janus Henderson Group PLC now owns 50,360 shares of the company’s stock worth $2,279,000 after purchasing an additional 8,863 shares in the last quarter. Stifel Financial Corp acquired a new stake in Kinetik during the 3rd quarter worth approximately $202,000. Finally, Y Intercept Hong Kong Ltd lifted its stake in Kinetik by 9.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 29,628 shares of the company’s stock valued at $1,341,000 after buying an additional 2,633 shares in the last quarter. Institutional investors own 21.11% of the company’s stock.

Kinetik Stock Performance

KNTK opened at $43.46 on Monday. The business’s 50-day simple moving average is $56.88 and its 200 day simple moving average is $55.68. The firm has a market capitalization of $6.86 billion, a PE ratio of 16.04, a PEG 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.

Kinetik Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Monday, February 3rd were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 7.18%. The ex-dividend date was Monday, February 3rd. Kinetik’s payout ratio is presently 305.88%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of Kinetik from $60.00 to $58.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. JPMorgan Chase & Co. increased their target price on Kinetik from $63.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, January 15th. Scotiabank dropped their price target on Kinetik from $62.00 to $60.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 6th. The Goldman Sachs Group upped their price objective on Kinetik from $46.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Royal Bank of Canada dropped their target price on Kinetik from $67.00 to $63.00 and set an “outperform” rating on the stock 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $59.63.

Insider Activity at Kinetik

In other news, major shareholder Isq Global Fund Ii Gp Llc sold 3,952,431 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $55.63, for a total value of $219,873,736.53. Following the sale, the insider now directly owns 1,044,520 shares of the company’s stock, valued at approximately $58,106,647.60. This represents a 79.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.71% of the stock is owned by company 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.