Y Intercept Hong Kong Ltd Has $381,000 Stock Holdings in Kinetik Holdings Inc. (NASDAQ:KNTK)

Y Intercept Hong Kong Ltd decreased its holdings in Kinetik Holdings Inc. (NASDAQ:KNTK) by 77.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,723 shares of the company’s stock after selling 22,905 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Kinetik were worth $381,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp acquired a new position in shares of Kinetik in the 4th quarter valued at $26,000. GAMMA Investing LLC increased its position in shares of Kinetik by 72.0% during the 4th quarter. GAMMA Investing LLC now owns 509 shares of the company’s stock worth $29,000 after purchasing an additional 213 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Kinetik during the 3rd quarter valued at about $46,000. Covestor Ltd lifted its holdings in Kinetik by 13,790.0% during the 3rd quarter. Covestor Ltd now owns 4,167 shares of the company’s stock valued at $189,000 after purchasing an additional 4,137 shares during the last quarter. Finally, Bright Futures Wealth Management LLC. bought a new position in Kinetik during the 4th quarter valued at about $189,000. Institutional investors and hedge funds own 21.11% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Scotiabank cut their price target on shares of Kinetik from $64.00 to $62.00 and set a “sector outperform” rating for the company in a report on Tuesday, January 21st. Wells Fargo & Company cut their price target 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 lifted their price target on shares of Kinetik from $47.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Citigroup boosted their target price on shares of Kinetik from $54.00 to $58.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Finally, The Goldman Sachs Group boosted their target price on shares of Kinetik from $46.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Kinetik currently has an average rating of “Moderate Buy” and an average target price of $59.00.

Kinetik Trading Down 2.7 %

NASDAQ KNTK opened at $56.79 on Tuesday. The firm’s fifty day moving average price is $61.07 and its two-hundred day moving average price is $54.20. Kinetik Holdings Inc. has a 1 year low of $34.27 and a 1 year high of $67.60. The firm has a market capitalization of $8.95 billion, a P/E ratio of 20.96, a price-to-earnings-growth ratio of 1.52 and a beta of 2.89.

Kinetik Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Monday, February 3rd were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 5.49%. The ex-dividend date of this dividend was Monday, February 3rd. 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.