21,000 Shares in Kinetik Holdings Inc. (NASDAQ:KNTK) Bought by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. acquired a new position in shares of Kinetik Holdings Inc. (NASDAQ:KNTK) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 21,000 shares of the company’s stock, valued at approximately $1,191,000.

Several other hedge funds have also added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in Kinetik by 1.6% during the 3rd 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 period. Merewether Investment Management LP increased its holdings in Kinetik by 56.6% during the 3rd quarter. Merewether Investment Management LP now owns 662,300 shares of the company’s stock worth $29,976,000 after purchasing an additional 239,500 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in Kinetik by 10.5% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 440,000 shares of the company’s stock worth $24,952,000 after purchasing an additional 41,864 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Kinetik by 30.6% during 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 in the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in Kinetik by 26.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 318,938 shares of the company’s stock worth $14,435,000 after purchasing an additional 66,329 shares in the last quarter. Institutional investors and hedge funds own 21.11% of the company’s stock.

Kinetik Price Performance

Shares of NASDAQ KNTK opened at $59.39 on Friday. The stock has a market capitalization of $9.36 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 1.56 and a beta of 2.89. The business has a 50-day moving average of $60.86 and a 200-day moving average of $53.29. Kinetik Holdings Inc. has a fifty-two week low of $32.96 and a fifty-two week high of $67.60.

Kinetik Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Monday, February 3rd were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 5.25%. The ex-dividend date of this dividend was Monday, February 3rd. Kinetik’s payout ratio is currently 115.13%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on KNTK shares. 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. Citigroup increased their target price on Kinetik from $54.00 to $58.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Wells Fargo & Company increased their target price on Kinetik from $58.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 18th. Mizuho increased their target price on Kinetik from $47.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Scotiabank decreased their price objective on Kinetik from $64.00 to $62.00 and set a “sector outperform” rating for the company in a report on Tuesday, January 21st. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.25.

Kinetik Company 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.