Gilman Hill Asset Management LLC Has $13.22 Million Stake in Kinetik Holdings Inc. (NASDAQ:KNTK)

Gilman Hill Asset Management LLC lessened its stake in shares of Kinetik Holdings Inc. (NASDAQ:KNTK) by 4.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 233,153 shares of the company’s stock after selling 11,371 shares during the period. Kinetik accounts for approximately 2.3% of Gilman Hill Asset Management LLC’s portfolio, making the stock its 2nd biggest position. Gilman Hill Asset Management LLC’s holdings in Kinetik were worth $13,222,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of KNTK. Geode Capital Management LLC boosted its stake in shares of Kinetik by 1.6% in 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 last quarter. Merewether Investment Management LP boosted its stake in shares of Kinetik by 56.6% in the 3rd quarter. Merewether Investment Management LP now owns 662,300 shares of the company’s stock worth $29,976,000 after buying an additional 239,500 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Kinetik by 70.3% during the second quarter. Dimensional Fund Advisors LP now owns 456,740 shares of the company’s stock valued at $18,927,000 after purchasing an additional 188,533 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in Kinetik by 15.7% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 398,136 shares of the company’s stock valued at $18,020,000 after purchasing an additional 54,000 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its position in Kinetik by 30.6% during the third quarter. Point72 Asset Management L.P. now owns 352,558 shares of the company’s stock valued at $15,957,000 after purchasing an additional 82,600 shares in the last quarter. Institutional investors own 21.11% of the company’s stock.

Kinetik Trading Up 1.1 %

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

Kinetik (NASDAQ:KNTK) last issued its earnings results on Wednesday, November 6th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.10). Kinetik had a negative return on equity of 39.48% and a net margin of 30.25%. The firm had revenue of $396.40 million during the quarter, compared to the consensus estimate of $331.21 million. During the same period last year, the firm posted $0.21 earnings per share. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, research analysts predict that Kinetik Holdings Inc. will post 1.35 EPS for the current fiscal year.

Analyst Ratings Changes

KNTK has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on Kinetik from $58.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. lifted their target price on Kinetik from $63.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, January 15th. The Goldman Sachs Group boosted their price objective on Kinetik from $46.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Royal Bank of Canada boosted their price objective on Kinetik from $46.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Barclays boosted their price objective on Kinetik from $47.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $59.50.

Kinetik 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.