Fractal Investments LLC Acquires Shares of 27,502 Kinetik Holdings Inc. (NASDAQ:KNTK)

Fractal Investments LLC bought a new position in Kinetik Holdings Inc. (NASDAQ:KNTK) in the 4th quarter, Holdings Channel reports. The firm bought 27,502 shares of the company’s stock, valued at approximately $919,000. Kinetik comprises about 0.2% of Fractal Investments LLC’s portfolio, making the stock its 23rd largest holding.

A number of other large investors have also recently made changes to their positions in KNTK. Ronald Blue Trust Inc. purchased a new stake in shares of Kinetik during the third quarter valued at $37,000. Deutsche Bank AG grew its stake in Kinetik by 5.4% in the 3rd quarter. Deutsche Bank AG now owns 22,401 shares of the company’s stock worth $756,000 after acquiring an additional 1,149 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Kinetik by 5.6% during the fourth quarter. Pacer Advisors Inc. now owns 23,689 shares of the company’s stock worth $791,000 after acquiring an additional 1,260 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in shares of Kinetik by 2.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 62,335 shares of the company’s stock valued at $2,082,000 after acquiring an additional 1,292 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Kinetik by 19.1% in the fourth quarter. SG Americas Securities LLC now owns 8,638 shares of the company’s stock valued at $289,000 after purchasing an additional 1,383 shares during the period. 21.11% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Kinetik

In other Kinetik news, major shareholder Corp Apache sold 13,079,871 shares of Kinetik stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $33.75, for a total transaction of $441,445,646.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Kinetik news, major shareholder Corp Apache sold 13,079,871 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $33.75, for a total value of $441,445,646.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jamie Welch bought 14,814 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were purchased at an average cost of $33.75 per share, with a total value of $499,972.50. Following the completion of the acquisition, the insider now owns 3,599,225 shares in the company, valued at $121,473,843.75. The disclosure for this purchase can be found here. Insiders have sold 13,095,803 shares of company stock worth $442,051,135 over the last 90 days. 3.71% of the stock is currently owned by company insiders.

Kinetik Stock Performance

KNTK stock traded up $0.59 during trading on Wednesday, reaching $39.15. The company had a trading volume of 531,832 shares, compared to its average volume of 570,185. The company has a market cap of $6.02 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 2.38 and a beta of 2.80. Kinetik Holdings Inc. has a twelve month low of $26.32 and a twelve month high of $40.42. The firm has a 50-day simple moving average of $36.89 and a 200-day simple moving average of $35.25.

Kinetik (NASDAQ:KNTK) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $1.70 EPS for the quarter, topping the consensus estimate of $0.46 by $1.24. The business had revenue of $348.87 million during the quarter, compared to the consensus estimate of $301.49 million. Kinetik had a net margin of 28.57% and a negative return on equity of 49.32%. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.25 earnings per share. Sell-side analysts expect that Kinetik Holdings Inc. will post 2 earnings per share for the current year.

Kinetik Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Monday, April 29th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 7.66%. The ex-dividend date of this dividend is Friday, April 26th. Kinetik’s dividend payout ratio (DPR) is currently 132.74%.

Analysts Set New Price Targets

A number of brokerages have weighed in on KNTK. Mizuho lifted their target price on Kinetik from $39.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their price objective on shares of Kinetik from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Barclays initiated coverage on Kinetik in a report on Monday. They set an “equal weight” rating and a $40.00 target price for the company. Finally, Royal Bank of Canada assumed coverage on Kinetik in a research report on Monday, March 25th. They issued an “outperform” rating and a $40.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $40.00.

About Kinetik

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.