Cwm LLC Has $172,000 Stock Position in Kinetik Holdings Inc. (NASDAQ:KNTK)

Cwm LLC boosted its position in Kinetik Holdings Inc. (NASDAQ:KNTK) by 2,030.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,793 shares of the company’s stock after buying an additional 3,615 shares during the quarter. Cwm LLC’s holdings in Kinetik were worth $172,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. SL Advisors LLC grew its position in shares of Kinetik by 5.0% in 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 last quarter. SG Americas Securities LLC boosted its stake in Kinetik by 71.9% during the 3rd 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. Point72 Asset Management L.P. grew its holdings in Kinetik by 46.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 269,958 shares of the company’s stock valued at $11,187,000 after buying an additional 85,748 shares during the last quarter. Creative Planning increased its position in Kinetik by 83.1% in the 2nd quarter. Creative Planning now owns 15,340 shares of the company’s stock worth $636,000 after buying an additional 6,961 shares during the period. Finally, Susquehanna Fundamental Investments LLC boosted its position in shares of Kinetik by 252.3% in the second quarter. Susquehanna Fundamental Investments LLC now owns 66,694 shares of the company’s stock valued at $2,764,000 after acquiring an additional 47,761 shares during the period. Institutional investors own 21.11% of the company’s stock.

Wall Street Analysts Forecast Growth

KNTK has been the subject of a number of research reports. Royal Bank of Canada raised their price objective on Kinetik from $46.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Barclays raised their target price on Kinetik from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Finally, Scotiabank boosted their price target on shares of Kinetik from $42.00 to $48.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 2nd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.86.

Kinetik Stock Performance

NASDAQ:KNTK opened at $50.69 on Thursday. The stock’s fifty day moving average price is $45.98 and its two-hundred day moving average price is $42.45. The company has a market cap of $7.79 billion, a price-to-earnings ratio of 20.77, a P/E/G ratio of 2.60 and a beta of 2.91. Kinetik Holdings Inc. has a 52-week low of $31.73 and a 52-week high of $51.16.

Kinetik (NASDAQ:KNTK) last released its earnings results on Wednesday, August 7th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.11. The firm had revenue of $359.50 million during the quarter, compared to analyst estimates of $305.94 million. Kinetik had a net margin of 30.96% and a negative return on equity of 48.16%. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 EPS. On average, equities analysts predict that Kinetik Holdings Inc. will post 1.39 EPS for the current fiscal year.

Kinetik Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 7th. Stockholders of record on Monday, October 28th will be issued a $0.78 dividend. This is a positive change from Kinetik’s previous quarterly dividend of $0.75. The ex-dividend date is Monday, October 28th. This represents a $3.12 annualized dividend and a dividend yield of 6.16%. Kinetik’s payout ratio is 127.87%.

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.