XTX Topco Ltd Takes $650,000 Position in Kinetik Holdings Inc. (NASDAQ:KNTK)

XTX Topco Ltd bought a new stake in Kinetik Holdings Inc. (NASDAQ:KNTK) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,455 shares of the company’s stock, valued at approximately $650,000.

A number of other institutional investors have also recently added to or reduced their stakes in KNTK. Stifel Financial Corp purchased a new stake in shares of Kinetik during the 3rd quarter worth about $202,000. Barclays PLC raised its stake in shares of Kinetik by 34.5% in the 3rd quarter. Barclays PLC now owns 234,286 shares of the company’s stock valued at $10,603,000 after acquiring an additional 60,058 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Kinetik by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 877,887 shares of the company’s stock valued at $39,742,000 after acquiring an additional 13,644 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in Kinetik during the 3rd quarter worth $921,000. Finally, JPMorgan Chase & Co. raised its position in Kinetik by 53.5% in the third quarter. JPMorgan Chase & Co. now owns 157,858 shares of the company’s stock valued at $7,145,000 after purchasing an additional 55,050 shares during the period. Hedge funds and other institutional investors own 21.11% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Scotiabank lowered their target price on Kinetik from $62.00 to $60.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 6th. US Capital Advisors upgraded shares of Kinetik from a “hold” rating to a “moderate buy” rating in a research note on Monday, April 7th. Wells Fargo & Company reduced their target price 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. Barclays lifted their price target on shares of Kinetik from $57.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised their target price on Kinetik from $63.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Kinetik currently has an average rating of “Moderate Buy” and a consensus price target of $59.75.

Insider Activity at Kinetik

In other Kinetik news, major shareholder Isq Global Fund Ii Gp Llc sold 1,044,519 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $52.66, for a total transaction of $55,004,370.54. Following the completion of the sale, the insider now owns 657,583 shares in the company, valued at $34,628,320.78. The trade was a 61.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.71% of the company’s stock.

Kinetik Stock Performance

KNTK opened at $43.73 on Friday. The company has a market capitalization of $6.90 billion, a P/E ratio of 16.14, a PEG ratio of 1.52 and a beta of 2.68. Kinetik Holdings Inc. has a 1-year low of $37.65 and a 1-year high of $67.60. The company has a 50-day moving average of $51.99 and a 200-day moving average of $55.25.

Kinetik Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 25th will be given a $0.78 dividend. The ex-dividend date is Friday, April 25th. This represents a $3.12 annualized dividend and a dividend yield of 7.13%. Kinetik’s payout ratio is 305.88%.

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.