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Why Kinetik (KNTK) Shares Are Trading Lower

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Benzinga

Kinetik Holdings Inc (NYSE: KNTK) shares are trading lower by 3.8% to $33.08 during Tuesday’s session after the company increased the size of its secondary offering to 6.5 million shares of Class A common stock at $31.50 per share due to high investor interest. Apache Midstream LLC, a subsidiary of Apache Corporation, is the selling stockholder in this offering, and Kinetik itself isn’t selling any shares. The underwriters have an option to purchase an additional 975,000 shares. Additionally, the company’s officers and directors, including the CEO, are set to buy a total of 63,492 shares at th…

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