Graham Capital Wealth Management LLC Sells 309 Shares of Kinetik Holdings Inc. (NASDAQ:KNTK)

Graham Capital Wealth Management LLC decreased its position in Kinetik Holdings Inc. (NASDAQ:KNTK) by 0.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 48,834 shares of the company’s stock after selling 309 shares during the period. Kinetik comprises approximately 2.5% of Graham Capital Wealth Management LLC’s portfolio, making the stock its 15th biggest holding. Graham Capital Wealth Management LLC’s holdings in Kinetik were worth $2,769,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Hsbc Holdings PLC purchased a new position in Kinetik during the second quarter valued at $210,000. The Manufacturers Life Insurance Company increased its position in Kinetik by 20.6% during the second quarter. The Manufacturers Life Insurance Company now owns 57,777 shares of the company’s stock valued at $2,394,000 after acquiring an additional 9,860 shares during the last quarter. Creative Planning grew its holdings in Kinetik by 83.1% during the second quarter. Creative Planning now owns 15,340 shares of the company’s stock valued at $636,000 after purchasing an additional 6,961 shares during the period. SG Americas Securities LLC grew its holdings in Kinetik by 71.9% during the third quarter. SG Americas Securities LLC now owns 5,678 shares of the company’s stock valued at $257,000 after purchasing an additional 2,375 shares during the period. Finally, SL Advisors LLC grew its holdings in Kinetik by 5.0% during the third quarter. SL Advisors LLC now owns 21,927 shares of the company’s stock valued at $992,000 after purchasing an additional 1,037 shares during the period. Institutional investors own 21.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on KNTK shares. 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 note on Thursday, December 19th. Mizuho increased their price target on Kinetik from $47.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. increased their price target on Kinetik from $63.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, January 15th. Barclays increased their price objective on Kinetik from $47.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Finally, Scotiabank dropped their target price on Kinetik from $64.00 to $62.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $59.25.

Kinetik Price Performance

Shares of Kinetik stock opened at $64.44 on Monday. The stock has a market cap of $10.15 billion, a P/E ratio of 23.77, a P/E/G ratio of 1.67 and a beta of 2.89. The stock’s 50 day simple moving average is $59.64 and its 200-day simple moving average is $51.52. Kinetik Holdings Inc. has a 1-year low of $31.73 and a 1-year high of $67.60.

Kinetik (NASDAQ:KNTK) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.10). The firm had revenue of $396.40 million for the quarter, compared to analysts’ expectations of $331.21 million. Kinetik had a net margin of 30.25% and a negative return on equity of 39.48%. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.21 EPS. As a group, research analysts expect that Kinetik Holdings Inc. will post 1.96 EPS for the current fiscal year.

Kinetik Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Monday, February 3rd will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 4.84%. The ex-dividend date is Monday, February 3rd. Kinetik’s payout ratio is presently 115.13%.

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.