Versor Investments LP Cuts Holdings in Kinetik Holdings Inc. (NASDAQ:KNTK)

Versor Investments LP lessened its position in shares of Kinetik Holdings Inc. (NASDAQ:KNTK) by 13.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,400 shares of the company’s stock after selling 1,600 shares during the period. Versor Investments LP’s holdings in Kinetik were worth $590,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fifth Third Bancorp acquired a new position in shares of Kinetik in the 4th quarter valued at about $26,000. Canton Hathaway LLC purchased a new position in Kinetik in the fourth quarter valued at approximately $28,000. GAMMA Investing LLC lifted its position in Kinetik by 72.0% during the fourth quarter. GAMMA Investing LLC now owns 509 shares of the company’s stock valued at $29,000 after buying an additional 213 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Kinetik during the third quarter worth approximately $46,000. Finally, Bright Futures Wealth Management LLC. purchased a new stake in Kinetik during the fourth quarter worth approximately $189,000. 21.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on KNTK. Citigroup lifted their target price on shares of Kinetik from $54.00 to $58.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Wells Fargo & Company cut their price objective on Kinetik from $60.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Friday. Barclays upped their target price on Kinetik from $47.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Scotiabank dropped their target price on Kinetik from $64.00 to $62.00 and set a “sector outperform” rating on the stock in a report on Tuesday, January 21st. 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 research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Kinetik currently has a consensus rating of “Moderate Buy” and an average price target of $59.00.

Kinetik Stock Performance

Shares of KNTK opened at $58.39 on Friday. Kinetik Holdings Inc. has a one year low of $33.76 and a one year high of $67.60. The stock has a 50-day moving average price of $61.07 and a 200 day moving average price of $54.11. The company has a market capitalization of $9.20 billion, a P/E ratio of 21.55, a P/E/G ratio of 1.52 and a beta of 2.89.

Kinetik Dividend Announcement

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

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.