Kinetik Holdings Inc. (NASDAQ:KNTK) Shares Sold by Gilman Hill Asset Management LLC

Gilman Hill Asset Management LLC lessened its position in Kinetik Holdings Inc. (NASDAQ:KNTK) by 4.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 233,153 shares of the company’s stock after selling 11,371 shares during the period. Kinetik makes up about 2.3% of Gilman Hill Asset Management LLC’s holdings, making the stock its 2nd largest position. Gilman Hill Asset Management LLC owned 0.15% of Kinetik worth $13,222,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of Kinetik by 72.0% in the fourth quarter. GAMMA Investing LLC now owns 509 shares of the company’s stock valued at $29,000 after purchasing an additional 213 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Kinetik in the third quarter valued at approximately $46,000. CWM LLC lifted its holdings in shares of Kinetik by 2,030.9% in the third quarter. CWM LLC now owns 3,793 shares of the company’s stock valued at $172,000 after purchasing an additional 3,615 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Kinetik by 244.9% in the third quarter. Blue Trust Inc. now owns 3,801 shares of the company’s stock valued at $158,000 after purchasing an additional 2,699 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Kinetik by 13,790.0% in the third quarter. Covestor Ltd now owns 4,167 shares of the company’s stock valued at $189,000 after purchasing an additional 4,137 shares in the last quarter. Institutional investors and hedge funds own 21.11% of the company’s stock.

Kinetik Trading Up 1.1 %

Shares of Kinetik stock opened at $65.29 on Monday. The firm has a market capitalization of $10.28 billion, a PE ratio of 24.09, a price-to-earnings-growth ratio of 1.67 and a beta of 2.91. The business’s 50-day moving average price is $58.42 and its 200-day moving average price is $49.94. Kinetik Holdings Inc. has a 12 month low of $31.73 and a 12 month high of $65.39.

Kinetik (NASDAQ:KNTK) last issued its earnings results on Wednesday, November 6th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.10). The company 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 company’s revenue was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.21 earnings per share. As a group, analysts predict that Kinetik Holdings Inc. will post 1.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on KNTK. Wells Fargo & Company lifted their price target on Kinetik from $58.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 18th. Royal Bank of Canada lifted their price target on Kinetik from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. lifted 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. Mizuho boosted their target price on Kinetik from $47.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Scotiabank started coverage on Kinetik in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $64.00 target price on the stock. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.50.

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.