Kinetik Holdings Inc. (NASDAQ:KNTK) Shares Bought by Rhumbline Advisers

Rhumbline Advisers lifted its holdings in shares of Kinetik Holdings Inc. (NASDAQ:KNTK) by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,018 shares of the company’s stock after buying an additional 1,189 shares during the period. Rhumbline Advisers’ holdings in Kinetik were worth $3,460,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in KNTK. Raymond James & Associates boosted its position in Kinetik by 74.2% during the 3rd quarter. Raymond James & Associates now owns 108,334 shares of the company’s stock worth $4,903,000 after acquiring an additional 46,157 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of Kinetik during the third quarter valued at about $3,558,000. Harbor Capital Advisors Inc. lifted its holdings in Kinetik by 132.1% in the third quarter. Harbor Capital Advisors Inc. now owns 8,914 shares of the company’s stock worth $403,000 after purchasing an additional 5,073 shares during the period. Van ECK Associates Corp grew its position in Kinetik by 73.4% in the 3rd quarter. Van ECK Associates Corp now owns 24,527 shares of the company’s stock valued at $1,110,000 after buying an additional 10,384 shares in the last quarter. Finally, Catalyst Capital Advisors LLC increased its stake in Kinetik by 3.2% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 245,554 shares of the company’s stock valued at $11,114,000 after buying an additional 7,552 shares during the period. 21.11% of the stock is owned by institutional investors.

Kinetik Stock Up 4.2 %

KNTK opened at $58.39 on Friday. The firm has a market cap of $9.20 billion, a PE ratio of 21.55, a P/E/G ratio of 1.52 and a beta of 2.89. The business has a fifty day simple moving average of $61.07 and a 200-day simple moving average of $54.11. Kinetik Holdings Inc. has a fifty-two week low of $33.76 and a fifty-two week high of $67.60.

Kinetik Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Monday, February 3rd were given a $0.78 dividend. The ex-dividend date was Monday, February 3rd. This represents a $3.12 dividend on an annualized basis and a dividend yield of 5.34%. Kinetik’s dividend payout ratio (DPR) is 115.13%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on KNTK shares. Wells Fargo & Company decreased their price objective on shares of Kinetik from $60.00 to $58.00 and set an “equal weight” rating for the company in a report on Friday. Barclays increased their price target on Kinetik from $47.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. boosted their price objective on Kinetik from $63.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 15th. Citigroup upped their price objective on Kinetik from $54.00 to $58.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Finally, The Goldman Sachs Group lifted their target price on Kinetik from $46.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Kinetik has an average rating of “Moderate Buy” and a consensus price target of $59.00.

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.