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Kinetik (KNTK)

Company Profile
Altus Midstream Company is a pure-play, Permian-to-Gulf Coast midstream C-corporation. Through its consolidated subsidiaries, Altus owns gas gathering, processing and transmission assets servicing production in the Delaware Basin and owns equity interests in four Permian-to-Gulf Coast pipelines.
Kinetik logo

Company profile

Ticker
KNTK
Exchange
NYSE
Website
www.altusmidstream.com
CEO
David Clay Bretches
Employees
Incorporated
Delaware
Location
Texas
Fiscal year end
Dec 31
Sector
Transportation and Warehousing > Pipeline Transportation of Crude Oil
Industry (SIC)
Natural Gas Transmission
Southern California Gas • Enterprise Products Partners • Energy Transfer • Williams Cos • Kinder Morgan • Boardwalk Pipeline Partners • Enable Midstream Partners • Equitrans Midstream • Archrock • Western Midstream Partners ...
Former names
Altus Midstream Co, Kayne Anderson Acquisition Corp
SEC CIK
0001692787
Corporate docs
Articles of Incorporation & Bylaws
Underwriting Agreements
Plans of Reorganization
Indentures
Material Contracts & Credit Agreements
Subsidiaries Lists
Subsidiaries
Altus Midstream Company • Altus Midstream GP LLC • Altus Midstream LP • Altus Midstream Gathering LP • Altus Midstream Processing LP • Altus Midstream NGL Pipeline LP • Altus Midstream Pipeline LP ...

KNTK stock data

Analyst ratings and price targets

Last 3 months
Current price
Average target
$38.50
Low target
$36.00
High target
$41.00
Morgan Stanley
Maintains
Equal-Weight
$41.00
9 Jan 23
Citigroup
Initiated
Buy
$36.00
9 Dec 22
Latest filings (excl ownership)
View all
8-K
Kinetik Reports Third Quarter 2022 Financial and Operating Results
9 Nov 22
10-Q
2022 Q3
Quarterly report
9 Nov 22
25
Voluntary exchange delisting
21 Oct 22
CERT
Certification of approval for exchange listing
19 Oct 22
8-A12B
Registration of securities on exchange
11 Oct 22
8-K
Kinetik Announces Transfer of Its Common Stock Listing to New York Stock Exchange
11 Oct 22
8-K
Kinetik Reports Robust Second Quarter 2022 Financial and Operating Results and Increases 2022 Guidance
10 Aug 22
10-Q
2022 Q2
Quarterly report
9 Aug 22
EFFECT
Notice of effectiveness
26 Jul 22
424B3
Prospectus supplement
25 Jul 22
Transcripts
View all
KNTK
Earnings call transcript
2022 Q3
10 Nov 22
KNTK
Earnings call transcript
2022 Q2
10 Aug 22
KNTK
Earnings call transcript
2022 Q1
11 May 22
KNTK
Earnings call transcript
2021 Q3
6 Nov 21
KNTK
Earnings call transcript
2021 Q2
8 Aug 21
KNTK
Earnings call transcript
2021 Q1
9 May 21
KNTK
Earnings call transcript
2020 Q4
28 Feb 21
KNTK
Earnings call transcript
2020 Q3
8 Nov 20
KNTK
Earnings call transcript
2020 Q2
1 Aug 20
KNTK
Earnings call transcript
2020 Q1
10 May 20
Latest ownership filings
View all
4
Jamie Welch
2 Feb 23
4
Change in insider ownership
2 Feb 23
4
STEPHEN A SCHWARZMAN
2 Feb 23
4
Change in insider ownership
2 Feb 23
4
Todd Carpenter
13 Dec 22
4
Anne Psencik
2 Dec 22
SC 13D/A
Blackstone Holdings III L.P.
21 Nov 22
SC 13D/A
ISQ Global Fund II GP LLC
21 Nov 22
4
STEPHEN A SCHWARZMAN
4 Nov 22
4
Change in insider ownership
4 Nov 22

Financial summary

Financial statements Chart KNTK financial data
Quarter (USD) Sep 22 Jun 22 Mar 22 Dec 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 11.73 mm 11.73 mm 11.73 mm 11.73 mm 11.73 mm 11.73 mm
Cash burn (monthly) (no burn) 1.95 mm (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) n/a 8.22 mm n/a n/a n/a n/a
Cash remaining n/a 3.51 mm n/a n/a n/a n/a
Runway (months of cash) n/a 1.8 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Financial data from Kinetik earnings reports.

Institutional ownership, Q3 2022

KNTK institutional ownership history Ownership history
13F holders Current Prev Q Change
Total holders 115 121 -5.0%
Opened positions 20 35 -42.9%
Closed positions 26 19 +36.8%
Increased positions 56 77 -27.3%
Reduced positions 24 5 +380.0%
13F shares Current Prev Q Change
Total value 6.29 bn 6.04 bn +4.2%
Total shares 149.56 mm 85.61 mm +74.7%
Total puts 0.00 0.00
Total calls 0.00 0.00
Total put/call ratio – – –
Largest owners Shares Value Change
Blackstone Holdings III 72.15 mm $2.79 bn +103.7%
ISQ Global Fund II GP 30.25 mm $1.17 bn +103.7%
APA APA 18.79 mm $725.31 mm +108.2%
Apache 13.02 mm $1.11 bn 0.0%
BX Blackstone 2.74 mm $89.14 mm +93.7%
Neuberger Berman 2.09 mm $68.18 mm +9.9%
Vanguard 1.56 mm $50.66 mm +38.0%
BLK Blackrock 1.46 mm $47.43 mm +8.1%
Aventail Capital 1.39 mm $45.37 mm +15.2%
Kayne Anderson Capital Advisors 601.27 k $19.59 mm 0.0%
Largest transactions Shares Bought/sold Change
Blackstone Holdings III 72.15 mm +36.73 mm +103.7%
ISQ Global Fund II GP 30.25 mm +15.40 mm +103.7%
APA APA 18.79 mm +9.76 mm +108.2%
BX Blackstone 2.74 mm +1.32 mm +93.7%
Vanguard 1.56 mm +428.12 k +38.0%
STT State Street 0.00 -283.87 k EXIT
Citadel Advisors 0.00 -265.18 k EXIT
Salient Capital Advisors 0.00 -231.51 k EXIT
Neuberger Berman 2.09 mm +188.91 k +9.9%
Aventail Capital 1.39 mm +183.86 k +15.2%
Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

KNTK insider ownership history Insider history
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
31 Jan 23 ISQ Global Fund II GP Class A Common Stock Conversion Acquire C Yes No 0 1,671 0.00 1,759,453
31 Jan 23 ISQ Global Fund II GP Consideration Allocation Rights Class A Common Stock Conversion Dispose C Yes No 0 1,671 0.00 1,607,543
31 Jan 23 BCP Raptor Aggregator Class A Common Stock Conversion Acquire C Yes No 0 554 0.00 583,812
31 Jan 23 BCP Raptor Aggregator Class A Common Stock Conversion Acquire C Yes No 0 3,433 0.00 3,611,272
31 Jan 23 BCP Raptor Aggregator Consideration Allocation Rights Class A Common Stock Conversion Dispose C Yes No 0 554 0.00 537,161
31 Jan 23 BCP Raptor Aggregator Consideration Allocation Rights Class A Common Stock Conversion Dispose C Yes No 0 3,433 0.00 3,326,025
31 Jan 23 Blackstone Holdings III Class A Common Stock Conversion Acquire C Yes No 0 554 0.00 583,812
31 Jan 23 Blackstone Holdings III Class A Common Stock Conversion Acquire C Yes No 0 3,433 0.00 3,611,272
31 Jan 23 Blackstone Holdings III Consideration Allocation Rights Class A Common Stock Conversion Dispose C Yes No 0 554 0.00 537,161
31 Jan 23 Blackstone Holdings III Consideration Allocation Rights Class A Common Stock Conversion Dispose C Yes No 0 3,433 0.00 3,326,025
Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

News

From Benzinga Pro
Morgan Stanley Maintains Equal-Weight on Kinetik Holdings, Lowers Price Target to $41
9 Jan 23
Morgan Stanley analyst Robert Kad maintains Kinetik Holdings (NYSE:KNTK) with a Equal-Weight and lowers the price target from $44 to $41.
Kinetik Holdings's Return on Invested Capital Overview
16 Dec 22
Expert Ratings for Kinetik Holdings
9 Dec 22
Citigroup Initiates Coverage On Kinetik Holdings with Buy Rating, Announces Price Target of $36
9 Dec 22
Kinetik Holdings Q3 EPS $1.04 Beats $0.62 Estimate, Sales $325.18M Beat $272.07M Estimate
9 Nov 22

Press releases

From Benzinga Pro
Kinetik Announces Fourth Quarter Dividend and Financial Results Timing
17 Jan 23
Kinetik Holdings Inc. (NYSE:KNTK) ("Kinetik" or the "Company") has declared a cash dividend of $0.75 per share ($3.00 on an annualized basis) for the fourth quarter ended December 31, 2022. The announced quarterly
The New York Stock Exchange Reports an Unprecedented Year of Activity in 2022
21 Dec 22
Leads industry in transfers from competing exchanges with highest number since turn of the century, $83 billion in market value added Lists largest IPO of the year, 3 of top 5 operating companies Continues to pioneer
EPIC Crude Terminal Added to the Leading International Crude Oil Pricing Benchmark
14 Nov 22
S&P Global includes EPIC Corpus Christi Crude Terminal in its Platts Dated Brent Price Assessment EPIC Crude Holdings, LP ("EPIC Crude" or "the Company") today announced that Platts will include the Company's Crude
Kinetik Reports Third Quarter 2022 Financial and Operating Results
9 Nov 22
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