Swiss National Bank Acquires 500 Shares of Kinetik Holdings Inc. (NASDAQ:KNTK)

Swiss National Bank raised its stake in Kinetik Holdings Inc. (NASDAQ:KNTK) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 76,300 shares of the company’s stock after acquiring an additional 500 shares during the period. Swiss National Bank’s holdings in Kinetik were worth $4,327,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Intech Investment Management LLC acquired a new position in Kinetik in the 3rd quarter worth $558,000. Charles Schwab Investment Management Inc. boosted its position in shares of Kinetik by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 307,929 shares of the company’s stock worth $13,937,000 after buying an additional 9,882 shares during the period. Quantbot Technologies LP grew its holdings in shares of Kinetik by 274.8% during the third quarter. Quantbot Technologies LP now owns 54,566 shares of the company’s stock worth $2,470,000 after buying an additional 40,008 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Kinetik in the 3rd quarter valued at approximately $1,887,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Kinetik by 14.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,867 shares of the company’s stock valued at $356,000 after acquiring an additional 983 shares in the last quarter. Institutional investors and hedge funds own 21.11% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Isq Global Fund Ii Gp Llc sold 1,044,519 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 657,583 shares of the company’s stock, valued at approximately $34,628,320.78. This trade represents a 61.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.71% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on KNTK shares. The Goldman Sachs Group boosted their price objective on shares of Kinetik from $46.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Barclays decreased their price objective on Kinetik from $61.00 to $57.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. Wells Fargo & Company dropped their target price on Kinetik from $60.00 to $58.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Scotiabank decreased their price target 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. Finally, JPMorgan Chase & Co. boosted their price target on Kinetik from $63.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.63.

Kinetik Stock Performance

Shares of KNTK stock opened at $53.02 on Wednesday. Kinetik Holdings Inc. has a 52 week low of $37.65 and a 52 week high of $67.60. The company has a market capitalization of $8.37 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 1.52 and a beta of 2.85. The company has a 50-day simple moving average of $59.17 and a 200 day simple moving average of $55.32.

Kinetik Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Monday, February 3rd were paid a dividend of $0.78 per share. The ex-dividend date was Monday, February 3rd. This represents a $3.12 dividend on an annualized basis and a dividend yield of 5.88%. Kinetik’s dividend payout ratio (DPR) is currently 305.88%.

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.