KNTK Kinetik Holdings Inc. Class A Common Stock
$54.63
Price · Aug 19, 2026
Fundamentals as of Aug 6, 2026
52W Range
$31–$55
98% of range
Analyst Rating
BUY
25 analysts
Price Target
$56
+3% upside
P/E (TTM)
13.7
ROE
-16.7%
Net Profit Margin
10.1%
KNTK Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$54.63
Market Cap
—
P/E (TTM)
13.7
EPS (TTM)
$2.63
Revenue (TTM)
$1.76B
Div Yield
—
ROE
-16.7%
Debt/Equity
—
52W Range
$31 – $55
KNTK Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$1.76B
2017-12-31
→
2025-12-31
EPS
$2.63
2017-12-31
→
2025-12-31
Free Cash Flow
$112M
2019-12-31
→
2025-12-31
Margins
10.1%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
KNTK
Peer Median
P/E (TTM)
13.7
24.1
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
KNTK
Peer Median
Operating Margin
9.3%
—
Net Profit Margin
10.1%
11.6%
ROA
2.6%
4.1%
ROE
-16.7%
19.9%
ROIC
-26.6%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
KNTK
Peer Median
Current Ratio
0.7
1.0
Quick Ratio
0.2
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
KNTK
Peer Median
Revenue YoY
19.0%
—
Revenue CAGR 3Y
13.3%
—
Revenue CAGR 5Y
33.9%
—
EPS YoY
157.8%
—
Net Income YoY
122.8%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
KNTK
Peer Median
Payout Ratio
108.7%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
—
Payout Ratio
108.7%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| July 24, 2026 | $0.8100 |
| April 24, 2026 | $0.8100 |
| Feb. 6, 2026 | $0.8100 |
| Oct. 27, 2025 | $0.7800 |
| July 25, 2025 | $0.7800 |
| April 25, 2025 | $0.7800 |
| Feb. 3, 2025 | $0.7800 |
| Oct. 28, 2024 | $0.7800 |
| July 29, 2024 | $0.7500 |
| April 26, 2024 | $0.7500 |
| Feb. 21, 2024 | $0.7500 |
| Nov. 10, 2023 | $0.7500 |
| Aug. 3, 2023 | $0.7500 |
| May 4, 2023 | $0.7500 |
| Feb. 3, 2023 | $0.7500 |
| Nov. 4, 2022 | $0.7500 |
| Aug. 4, 2022 | $0.7500 |
| May 4, 2022 | $0.7500 |
| Nov. 29, 2021 | $0.7500 |
| Aug. 26, 2021 | $0.7500 |
KNTK Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
25 analysts
- Strong Buy 6 24.0%
- Buy 14 56.0%
- Hold 5 20.0%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
16 analysts · 2026-08-19
Median
$57.00
Now
$54.63
Low
$48.00
High
$70.00
Median target
$57.00
+4.3%
Mean target
$56.19
+2.9%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.25%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.64 | $0.24 | 0.40% |
| March 31, 2026 | $-0.07 | $0.21 | -0.28% |
| Dec. 31, 2025 | $2.16 | $0.29 | 1.9% |
| Sept. 30, 2025 | $0.03 | $0.34 | -0.31% |
| June 30, 2025 | $0.33 | $0.26 | 0.07% |
| March 31, 2025 | $0.05 | $0.32 | -0.27% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| KNTK | — | 13.7 | 19.0% | 10.1% | -16.7% | — |
| CQP | — | -109.1 | 23.6% | 27.8% | — | — |
| WES | — | — | 6.6% | 30.7% | — | — |
| PAA | — | — | -9.5% | 3.2% | — | — |
| DTM | $12.17B | 27.8 | 26.7% | 35.5% | 9.4% | — |
| AM | $8.43B | 20.7 | 7.4% | 34.8% | 20.4% | — |
| HESM | — | — | 8.4% | 21.8% | — | — |
| PAGP | — | 38.3 | -9.5% | 0.59% | — | — |
| INSW | $2.40B | 7.8 | -11.4% | 36.7% | 15.8% | — |
| EE | — | 21.9 | 44.3% | — | — | — |
| WMB | — | 28.1 | 13.8% | 21.9% | 20.7% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.76B | $1.48B | $1.26B | $1.21B | $662M | $410M | $136M | $77M | $15M | |
| Cost of Revenue | · | · | · | · | · | · | $56M | $54M | $17M | |
| SG&A Expense | $131M | $134M | $98M | $94M | $29M | $23M | $10M | $7M | $4M | |
| Operating Expenses | $300M | $221M | $183M | $154M | $609M | $1.43B | $1.42B | $89M | $27M | |
| Operating Income | $165M | $179M | $159M | $150M | $53M | $-1.02B | $-1.29B | $-12M | $-12M | |
| Other Non-op | $412M | $88M | $-6M | $103M | $-50M | $-134M | $-622.0K | $0 | $0 | |
| Pretax Income | $577M | $267M | $154M | $253M | $3M | $-1.15B | $-1.26B | $-11M | $-12M | |
| Income Tax | $51M | $23M | $-233M | $3M | $2M | $968.0K | $65M | $-11M | $7M | |
| Net Income | $178M | $80M | $289M | $251M | $1M | $-1.16B | $-1.33B | $-239.0K | $-19M | |
| EPS (Basic) | $2.66 | $1.03 | $5.25 | $1.47 | $0.00 | $0.00 | $-95.70 | $-0.51 | $-0.30 | |
| EPS (Diluted) | $2.63 | $1.02 | $2.52 | $1.47 | $0.00 | $0.00 | $-95.70 | $-0.51 | $-0.30 | |
| Shares (Basic) | 61,962,000 | 59,284,000 | 51,823,000 | 41,630,000 | 0 | 0 | 3,746,000 | 8,656,000 | 62,259,000 | |
| Shares (Diluted) | 62,665,000 | 60,115,000 | 146,197,000 | 41,665,000 | 0 | 0 | 3,746,000 | 8,656,000 | 62,259,000 | |
| EBITDA | $548M | $503M | $440M | $411M | · | $78M | $-1.24B | · | $-2M |
Balance Sheet 27
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $4M | $4M | $5M | $6M | $19M | $24M | $6M | $450M | $0 | |
| Receivables | $85M | $112M | $216M | $204M | $178M | · | $15M | $11M | $5M | |
| Inventory | $5M | $4M | $3M | $5M | $2M | $4M | $4M | $6M | $743.0K | |
| Prepaid Expense | $34M | $37M | $29M | $24M | $21M | $2M | $1M | $1M | $0 | |
| Current Assets | $302M | $295M | $257M | $242M | $218M | $43M | $32M | $468M | $6M | |
| PP&E (Net) | $3.87B | $3.43B | $2.74B | $2.54B | $1.84B | $196M | $206M | $1.23B | $700M | |
| PP&E (Gross) | · | · | · | · | $212M | $209M | $207M | $1.25B | $705M | |
| Accum. Depreciation | $1.05B | $813M | $626M | $474M | $337M | $13M | $1M | $24M | $6M | |
| Goodwill | $5M | $5M | $5M | $5M | $0 | · | · | · | · | |
| Intangibles | $553M | $652M | $592M | $695M | $786M | · | · | · | · | |
| Other Non-current Assets | · | $200.0K | · | · | $1.37B | $1.56B | $1.26B | $162M | $0 | |
| Total Assets | $7.10B | $6.81B | $6.50B | $5.92B | $3.55B | $1.80B | $1.50B | $1.86B | $706M | |
| Accounts Payable | $42M | $27M | $34M | $18M | $12M | · | · | · | · | |
| Accrued Liabilities | $172M | $187M | $177M | $174M | $136M | · | · | · | $742.7K | |
| Short-term Debt | · | · | $0 | · | · | · | · | · | · | |
| Current Liabilities | $441M | $419M | $250M | $228M | $241M | $30M | $34M | $99M | $124M | |
| Capital Leases | $29M | $11M | $9M | $6M | $30M | · | $1M | · | · | |
| Deferred Tax | $22M | $17M | $13M | $11M | $7M | · | $0 | $3M | $7M | |
| Other Non-current Liabilities | $15M | $2M | $3M | $3M | $2M | $6M | $5M | $0 | $25M | |
| Total Liabilities | $4.17B | $3.84B | $3.87B | $3.65B | $2.55B | $863M | $597M | $131M | $150M | |
| Long-term Debt | $3.65B | $3.39B | $3.59B | $3.40B | $2.35B | $624M | $396M | $0 | · | |
| Paid-in Capital | $241M | $0 | $193M | $119M | $0 | $122M | $40M | $0 | $575M | |
| Retained Earnings | $-806M | $-2.98B | $-724M | $-959M | $0 | $-369M | $-393M | $-214M | $-19M | |
| Treasury Stock | · | $0 | · | $0 | · | · | · | · | · | |
| AOCI | · | · | · | · | $0 | $-145.0K | $-266.0K | $0 | · | |
| Stockholders' Equity | $-565M | $-2.98B | $-531M | $-840M | $10.0K | $10.0K | $9.0K | $-227M | $556M | |
| Liabilities + Equity | $7.10B | $6.81B | $6.50B | $5.92B | $3.55B | $1.80B | $1.50B | $1.86B | $706M |
Cash Flow 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $383M | $324M | $281M | $260M | $244M | $224M | $41M | $20M | $6M | |
| Stock-based Comp | $63M | $77M | $56M | $43M | $0 | $0 | · | · | · | |
| Deferred Tax | $51M | $20M | $-233M | $2M | $2M | $968.0K | $65M | $-9M | $7M | |
| Amort. of Intangibles | $142M | $140M | $122M | $121M | $137M | $126M | · | · | · | |
| Other Non-cash | $-70M | $-27M | $94M | $57M | · | $68M | $1.31B | · | · | |
| Operating Cash Flow | $604M | $637M | $584M | $613M | $236M | $102M | $76M | $661.0K | $0 | |
| CapEx | $492M | $264M | $313M | $206M | $78M | $181M | $343M | $84M | $0 | |
| Investing Cash Flow | $-199M | $-177M | $-686M | $-286M | $-100M | $-506M | $-1.50B | $-175M | $0 | |
| Debt Issued | $1.40B | $0 | $800M | $3.00B | $30M | $134M | · | · | · | |
| Net Debt Issued | $400M | $-200M | $0 | $706M | · | · | · | · | · | |
| Stock Repurchased | $176M | $0 | $6M | $0 | $0 | · | · | · | · | |
| Net Stock Activity | $-176M | $0 | $-6M | · | · | · | · | · | · | |
| Dividends Paid | $194M | $175M | $81M | $39M | $0 | $0 | $0 | · | · | |
| Financing Cash Flow | $-405M | $-461M | $100M | $-339M | $-137M | $373M | $983M | $624M | $0 | |
| Net Change in Cash | $345.0K | $-904.0K | $-2M | $-12M | $-862.0K | $-31M | $-444M | $450M | $0 | |
| Taxes Paid | $4M | $560.0K | $480.0K | $0 | $0 | · | · | · | · | |
| Free Cash Flow | $112M | $374M | $272M | $407M | · | $134M | $-266M | · | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 9.3% | 12.1% | 12.7% | 12.4% | · | 41.5% | -946.8% | · | · | |
| Net Margin | 10.1% | 16.5% | 30.8% | 20.7% | · | 54.2% | -986.0% | · | · | |
| Pretax Margin | 32.7% | 18.0% | 12.2% | 20.9% | · | 53.8% | -938.2% | · | · | |
| EBITDA Margin | 31.0% | 34.0% | 35.0% | 33.9% | · | 52.3% | -916.3% | · | · | |
| ROA | 2.6% | 3.7% | 6.2% | 5.3% | · | 4.9% | -79.7% | · | -0.10% | |
| ROE | -16.7% | -10.4% | -56.5% | -29.9% | · | -92.5% | -2938.6% | · | -0.58% | |
| ROIC | -26.6% | -5.5% | -75.5% | -17.7% | · | -25.2% | 382.7% | · | · |
Liquidity & Solvency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.7 | 0.7 | 1.0 | 1.1 | · | 1.4 | 0.9 | · | 0.4 | |
| Quick Ratio | 0.2 | 0.3 | 0.9 | 0.9 | · | 0.8 | 0.6 | · | 0.4 |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.2 | 0.2 | 0.3 | · | 0.1 | 0.1 | · | 0.0 | |
| Inventory Turnover | · | · | · | · | · | · | 11.4 | · | · | |
| Receivables Turnover | 17.9 | 9.1 | 6.0 | 6.4 | · | · | 10.3 | · | · |
Growth Rates 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 19.0% | 18.0% | 3.5% | 83.3% | 61.4% | · | · | · | · | |
| Revenue CAGR 3Y | 13.3% | 30.8% | 45.2% | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 33.9% | · | · | · | · | · | · | · | · | |
| EPS YoY | 157.8% | -59.5% | 71.4% | · | · | · | · | · | · | |
| EPS CAGR 3Y | 21.4% | · | · | · | · | · | · | · | · | |
| Net Income YoY | 122.8% | -72.4% | 15.4% | 16817.8% | · | · | · | · | · | |
| Net Income CAGR 3Y | -10.8% | 277.9% | · | · | · | · | · | · | · |
Valuation (TTM) 6
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.76B | $1.48B | $1.26B | $1.21B | $662M | $410M | $136M | $77M | $15M | |
| Net Income TTM | $178M | $80M | $289M | $251M | $1M | $-1.16B | $-1.33B | $-239.0K | $-19M | |
| P/E | 13.7 | 55.6 | 13.3 | 22.5 | · | · | -0.6 | -303.1 | · | |
| Earnings Yield | 7.3% | 1.8% | 7.5% | 4.4% | 0.00% | 0.00% | -167.3% | -0.33% | · | |
| Payout Ratio | 108.7% | 71.7% | 21.1% | 15.7% | · | · | · | · | · | |
| Annual Payout | $194M | $175M | $81M | $39M | $0 | $0 | $0 | · | · |
Income Statement 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $581M | $410M | $430M | $464M | $427M | $443M | $386M | $396M | $359M | $341M | $349M | $330M | $296M | $281M | $295M | $325M | |
| SG&A Expense | $26M | $44M | $39M | $30M | $24M | $38M | $39M | $30M | $31M | $34M | $25M | $23M | $23M | $28M | $22M | $23M | |
| Operating Expenses | $80M | $79M | $72M | $83M | $75M | $70M | $59M | $62M | $50M | $50M | $-621M | $292M | $259M | $254M | $-658M | $279M | |
| Operating Income | $134M | $-4M | $48M | $20M | $77M | $19M | $24M | $73M | $57M | $26M | $56M | $38M | $37M | $27M | $45M | $46M | |
| Interest Income | · | · | · | · | · | · | · | $572.0K | · | $577.0K | · | $293.0K | · | · | · | · | |
| Other Non-op | $4M | $-2M | $408M | $-3M | $4M | $3M | $-6M | $19M | $62M | $13M | $-24M | $6M | $35M | $-23M | $4M | $5M | |
| Pretax Income | $138M | $-6M | $456M | $17M | $82M | $22M | $18M | $92M | $118M | $39M | $32M | $44M | $72M | $5M | $49M | $51M | |
| Income Tax | $14M | $-778.0K | $40M | $1M | $7M | $3M | $2M | $8M | $9M | $4M | $-235M | $1M | $311.0K | $416.0K | $372.0K | $1M | |
| Net Income | $50M | $-2M | $130M | $5M | $24M | $6M | $-18M | $26M | $37M | $35M | $-321M | $215M | $208M | $187M | $-310M | $212M | |
| EPS (Basic) | $0.65 | $-0.07 | $2.25 | $0.03 | $0.33 | $0.05 | $0.02 | $0.35 | $0.54 | $0.12 | $4.69 | $0.21 | $0.41 | $-0.06 | $0.27 | $1.04 | |
| EPS (Diluted) | $0.64 | $-0.07 | $2.22 | $0.03 | $0.33 | $0.05 | $0.01 | $0.35 | $0.54 | $0.12 | $1.96 | $0.21 | $0.41 | $-0.06 | $0.27 | $1.04 | |
| Shares (Basic) | 75,138,000 | 65,910,000 | -121,787,000 | 61,866,000 | 61,721,000 | 60,162,000 | -118,188,000 | 59,811,000 | 59,792,000 | 57,869,000 | -99,682,000 | 53,340,000 | 50,553,000 | 47,612,000 | -76,875,000 | 41,816,000 | |
| Shares (Diluted) | 75,812,000 | 66,684,000 | -122,992,000 | 62,428,000 | 62,228,000 | 61,001,000 | -118,980,000 | 60,424,000 | 60,279,000 | 58,392,000 | -5,716,000 | 53,463,000 | 50,625,000 | 47,825,000 | -76,945,000 | 41,855,000 | |
| EBITDA | $237M | $98M | · | $115M | $171M | $112M | · | $160M | $132M | $100M | · | $108M | $107M | $96M | · | $111M |
Balance Sheet 25
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $8M | $720.0K | $4M | $8M | $11M | $9M | $4M | $20M | $13M | $10M | · | $68.0K | $2M | $2M | · | $12M | |
| Receivables | $61M | $93M | $85M | $77M | $63M | $123M | $112M | $66M | $94M | $210M | · | $231M | $182M | $199M | · | · | |
| Inventory | · | · | $5M | · | · | · | $4M | · | · | · | · | $9M | $7M | $4M | · | $13M | |
| Prepaid Expense | $36M | $31M | $34M | $44M | $37M | $33M | $37M | $44M | $32M | $27M | · | $36M | $36M | $31M | · | $37M | |
| Current Assets | $350M | $319M | $302M | $315M | $313M | $315M | $295M | $286M | $299M | $257M | · | $288M | $248M | $246M | · | $319M | |
| PP&E (Net) | $3.94B | $3.89B | $3.87B | $3.81B | $3.73B | $3.64B | $3.43B | $3.23B | $3.19B | $2.75B | · | $2.72B | $2.69B | $2.63B | · | $2.53B | |
| Accum. Depreciation | $1.18B | $1.11B | $1.05B | $985M | $927M | $870M | $813M | $759M | $711M | $667M | · | $586M | $548M | $512M | · | $437M | |
| Goodwill | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $15M | $5M | · | $5M | $5M | $5M | · | $5M | |
| Intangibles | $494M | $523M | $553M | $585M | $608M | $634M | $652M | $878M | $936M | $563M | · | $621M | $650M | $677M | · | $722M | |
| Total Assets | $7.20B | $7.11B | $7.10B | $7.20B | $7.15B | $7.03B | $6.81B | $6.86B | $6.86B | $6.45B | · | $6.29B | $6.23B | $6.12B | $5.92B | $6.01B | |
| Accounts Payable | $49M | $29M | $42M | $32M | $37M | $39M | $27M | $17M | $44M | $16M | · | $18M | $36M | $18M | · | $16M | |
| Accrued Liabilities | $173M | $228M | $172M | $228M | $219M | $234M | $187M | $192M | $157M | $170M | · | $188M | $112M | $176M | · | $235M | |
| Short-term Debt | · | · | · | · | · | · | · | · | $149M | · | · | · | · | · | · | · | |
| Current Liabilities | $512M | $537M | $441M | $504M | $502M | $475M | $419M | $399M | $399M | $234M | · | $251M | $199M | $248M | · | $285M | |
| Capital Leases | $16M | $18M | $29M | $40M | $38M | $20M | $11M | $13M | $15M | $3M | · | $16M | $22M | $25M | · | $9M | |
| Deferred Tax | $23M | $22M | $22M | $18M | $18M | $18M | $17M | $16M | $15M | $14M | · | $13M | $12M | $11M | · | $13M | |
| Other Non-current Liabilities | $385.0K | $15M | $15M | $25M | $25M | $26M | $2M | $68M | $66M | $3M | · | $3M | $3M | $4M | · | $3M | |
| Total Liabilities | $4.29B | $4.27B | $4.17B | $4.58B | $4.34B | $4.13B | $3.84B | $3.80B | $3.78B | $3.80B | · | $3.92B | $3.89B | $3.85B | · | $3.78B | |
| Long-term Debt | $3.72B | $3.67B | $3.65B | $3.98B | $3.77B | $3.60B | $3.39B | $3.31B | $3.29B | $3.55B | · | $3.63B | $3.65B | $3.54B | · | $3.48B | |
| Total Debt | · | · | · | · | · | · | · | · | $149M | · | · | · | · | · | · | · | |
| Paid-in Capital | $495M | $0 | $241M | $222M | $288M | $67M | $0 | $0 | $0 | $0 | · | $92M | $0 | $230M | · | $107M | |
| Retained Earnings | $-1.68B | $-1.67B | $-806M | $-2.00B | $-1.78B | $-2.62B | $-2.98B | $-1.72B | $-1.21B | $-973M | · | $-930M | $-902M | $-863M | · | $-942M | |
| Treasury Stock | · | · | · | · | $73M | · | · | · | · | · | · | · | $3M | $2M | · | · | |
| Stockholders' Equity | $-1.19B | $-1.67B | $-565M | $-1.78B | $-1.57B | $-2.55B | $-2.98B | $-1.72B | $-1.21B | $-973M | $-531M | $-838M | $-906M | $-636M | $-840M | $-835M | |
| Liabilities + Equity | $7.20B | $7.11B | $7.10B | $7.20B | $7.15B | $7.03B | $6.81B | $6.86B | $6.86B | $6.45B | · | $6.29B | $6.23B | $6.12B | · | $6.01B |
Cash Flow 17
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $103M | $102M | $101M | $95M | $94M | $93M | $88M | $88M | $75M | $74M | $73M | $70M | $69M | $69M | $68M | $65M | |
| Stock-based Comp | $9M | $21M | $18M | $14M | $10M | $21M | $24M | $15M | $15M | $23M | $13M | $12M | $13M | $18M | $12M | $13M | |
| Deferred Tax | $14M | $-778.0K | $40M | $1M | $7M | $2M | $-230.0K | $7M | $9M | $4M | $-235M | $1M | $240.0K | $363.0K | $212.0K | $1M | |
| Amort. of Intangibles | $37M | $36M | $37M | $37M | $37M | $31M | $39M | $39M | $31M | $31M | $31M | $31M | $31M | $30M | $30M | $30M | |
| Other Non-cash | · | $60M | · | · | · | $42M | · | · | · | $-180M | · | · | · | $-155M | · | · | |
| Operating Cash Flow | $161M | $180M | $110M | $188M | $129M | $177M | $144M | $214M | $126M | $154M | $179M | $175M | $111M | $120M | $160M | $184M | |
| CapEx | $109M | $83M | $134M | $157M | $127M | $75M | $108M | $58M | $39M | $58M | $67M | $86M | $101M | $59M | $46M | $89M | |
| Investing Cash Flow | $-115M | $-89M | $364M | $-171M | $-131M | $-260M | $-111M | $-109M | $105M | $-62M | $-104M | $-135M | $-201M | $-246M | $-70M | $-147M | |
| Debt Issued | $0 | $0 | $0 | $0 | $1.15B | $250M | $0 | $0 | $0 | $0 | $800M | $0 | · | · | $0 | $0 | |
| Net Debt Issued | · | $0 | · | · | · | $250M | · | · | · | · | · | · | · | $0 | · | · | |
| Stock Repurchased | · | · | $3M | $100M | · | · | $0 | $0 | $0 | $0 | $0 | $0 | $3M | $2M | $0 | $0 | |
| Net Stock Activity | · | · | · | · | · | · | · | · | · | $0 | · | · | · | $-2M | · | · | |
| Dividends Paid | $60M | $52M | $50M | $49M | $48M | $47M | $47M | $45M | $45M | $39M | $23M | $22M | $19M | $17M | $15M | $13M | |
| Financing Cash Flow | $-39M | $-95M | $-478M | $-20M | $4M | $89M | $-50M | $-97M | $-228M | $-86M | $-71M | $-42M | $90M | $122M | $-95M | $-31M | |
| Net Change in Cash | $7M | $-3M | $-4M | $-3M | $2M | $5M | $-17M | $8M | $3M | $5M | $4M | $-2M | $253.0K | $-4M | $-5M | $6M | |
| Taxes Paid | · | · | $0 | $1M | · | · | $1.0K | $74.0K | · | · | $-4.0K | $434.0K | · | · | · | · | |
| Free Cash Flow | · | $97M | · | · | · | $102M | · | · | · | $96M | · | · | · | $61M | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 23.0% | -0.94% | · | 4.3% | 18.1% | 4.3% | · | 18.4% | 15.7% | 7.6% | · | 11.6% | 12.6% | 9.7% | · | 14.1% | |
| Net Margin | 8.5% | -0.41% | · | 1.1% | 5.5% | 4.3% | · | 67.0% | 65.2% | 68.4% | · | 65.2% | 70.2% | 66.7% | · | 15.2% | |
| Pretax Margin | 23.6% | -1.4% | · | 3.6% | 19.2% | 4.9% | · | 23.2% | 32.9% | 11.5% | · | 13.5% | 24.3% | 1.7% | · | 15.6% | |
| EBITDA Margin | 40.8% | 23.9% | · | 24.8% | 40.1% | 25.3% | · | 40.5% | 36.6% | 29.2% | · | 32.8% | 36.1% | 34.2% | · | 34.1% | |
| ROA | 0.69% | -0.02% | · | 0.07% | 0.34% | 0.29% | · | 4.0% | 3.6% | 3.7% | · | 3.5% | 3.4% | 3.1% | · | 1.3% | |
| ROE | -3.6% | 0.08% | · | -0.30% | -1.7% | -1.1% | · | -20.8% | -22.2% | -29.0% | · | -25.8% | -19.9% | -21.1% | · | -7.5% | |
| ROIC | -10.1% | 0.20% | · | -1.0% | -4.5% | -0.67% | · | -3.9% | -4.9% | -2.4% | · | -4.5% | -4.1% | -3.9% | · | -5.3% |
Liquidity & Solvency 3
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.7 | 0.6 | · | 0.6 | 0.6 | 0.7 | · | 0.7 | 0.8 | 1.1 | · | 1.1 | 1.2 | 1.0 | · | 1.1 | |
| Quick Ratio | 0.1 | 0.2 | · | 0.2 | 0.1 | 0.3 | · | 0.2 | 0.3 | 0.9 | · | 0.9 | 0.9 | 0.8 | · | 0.0 | |
| Debt / Equity | · | · | · | · | · | · | · | · | -0.1 | · | · | · | · | · | · | · |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.0 | 0.0 | · | 0.1 | |
| Receivables Turnover | 9.4 | 3.8 | · | 6.5 | 5.4 | 2.7 | · | 2.7 | 2.6 | 1.7 | · | 2.9 | 3.3 | 2.8 | · | · |
Valuation (TTM) 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.88B | $1.74B | · | $1.73B | $1.63B | $1.54B | · | $1.43B | $1.33B | $1.25B | · | $1.23B | $1.24B | $1.20B | · | $1.08B | |
| Net Income TTM | $77M | $33M | · | $74M | $106M | $118M | · | $314M | $496M | $646M | · | $823M | $816M | $749M | · | $566M | |
| P/E | 52.0 | 142.4 | · | 56.2 | 34.7 | 49.0 | · | 37.1 | 32.4 | 58.6 | · | 21.1 | 24.2 | 27.5 | · | 27.1 | |
| Earnings Yield | 1.9% | 0.70% | · | 1.8% | 2.9% | 2.0% | · | 2.7% | 3.1% | 1.7% | · | 4.7% | 4.1% | 3.6% | · | 3.7% | |
| Payout Ratio | · | -3136.9% | · | · | · | 243.9% | · | · | · | 16.6% | · | · | · | 9.0% | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $1.76B | $1.48B | $1.26B | $1.21B | $662M |
| Operating Margin % | 9.3% | 12.1% | 12.7% | 12.4% | — |
| Net Income | $178M | $80M | $289M | $251M | $1M |
| Diluted EPS | $2.63 | $1.02 | $2.52 | $1.47 | $0.00 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 0.7 | 0.7 | 1.0 | 1.1 | — |
| Quick Ratio | 0.2 | 0.3 | 0.9 | 0.9 | — |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $112M | $374M | $272M | $407M | — |
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Institutional owners (13F) 344 filers · $2.4B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 60 (-24 vs prior Q) | 34 (+14 vs prior Q) | 131 (+19 vs prior Q) | 76 (+9 vs prior Q) | +13.1M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| Blackstone Inc. | $575,935,957 | 11,914,273 | 23.72% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $156,762,124 | 3,242,907 | 6.46% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $116,439,797 | 2,408,767 | 4.80% | Shares |
| STATE STREET CORP | $96,619,865 | 1,998,756 | 3.98% | Shares |
| CITADEL ADVISORS LLC | $88,743,974 | 1,835,829 | 3.65% | Shares |
| CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT | $84,691,680 | 1,752,000 | 3.49% | Shares |
| Clearbridge Investments, LLC | $68,599,265 | 1,419,099 | 2.83% | Shares |
| NEUBERGER BERMAN GROUP LLC | $60,290,010 | 1,246,612 | 2.48% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $54,796,980 | 1,133,313 | 2.26% | Shares |
| Yaupon Capital Management LP | $48,445,575 | 1,002,184 | 2.00% | Shares |
| BARCLAYS PLC | $47,263,566 | 977,732 | 1.95% | Shares |
| Zimmer Partners, LP | $40,511,337 | 838,050 | 1.67% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $39,843,000 | 824,217 | 1.64% | Shares |
| RR Advisors, LLC | $38,575,272 | 797,999 | 1.59% | Shares |
| GOLDMAN SACHS GROUP INC | $37,221,607 | 769,996 | 1.53% | Shares |
| Advisors Capital Management, LLC | $33,345,478 | 689,811 | 1.37% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $32,386,040 | 669,964 | 1.33% | Shares |
| CITIGROUP INC | $31,696,635 | 655,702 | 1.31% | Shares |
| AMERIPRISE FINANCIAL INC | $31,509,174 | 651,824 | 1.30% | Shares |
| WESTWOOD HOLDINGS GROUP INC | $30,465,640 | 630,237 | 1.25% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $29,832,789 | 617,145 | 1.23% | Shares |
| CRAWFORD INVESTMENT COUNSEL INC | $28,899,725 | 597,843 | 1.19% | Shares |
| CIBC Private Wealth Group LLC | $27,496,266 | 643,338 | 1.13% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $23,405,648 | 484,188 | 0.96% | Shares |
| Pictet Asset Management Holding SA | $21,797,279 | 450,916 | 0.90% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $21,101,135 | 436,515 | 0.87% | Shares |
| Brookfield Corp /ON/ | $20,120,316 | 416,225 | 0.83% | Shares |
| NEOS Investment Management LLC | $18,955,468 | 392,128 | 0.78% | Shares |
| EAGLE GLOBAL ADVISORS LLC | $18,691,628 | 386,670 | 0.77% | Shares |
| Catalyst Capital Advisors LLC | $17,916,254 | 370,630 | 0.74% | Shares |
| TORTOISE CAPITAL ADVISORS, L.L.C. | $17,622,009 | 364,543 | 0.73% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $16,964,633 | 350,944 | 0.70% | Shares |
| Advisors Asset Management, Inc. | $16,772,606 | 295,761 | 0.69% | Shares |
| Longaeva Partners L.P. | $15,075,264 | 311,859 | 0.62% | Shares |
| JANE STREET GROUP, LLC | $13,675,386 | 282,900 | 0.56% | Call option |
| Alyeska Investment Group, L.P. | $13,291,615 | 274,961 | 0.55% | Shares |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | $12,890,344 | 266,660 | 0.53% | Shares |
| JENNISON ASSOCIATES LLC | $12,643,762 | 261,559 | 0.52% | Shares |
| Gilman Hill Asset Management, LLC | $12,034,906 | 248,964 | 0.50% | Shares |
| D. E. Shaw & Co., Inc. | $11,638,725 | 240,768 | 0.48% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $11,561,913 | 239,179 | 0.48% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $11,272,888 | 233,200 | 0.46% | Call option |
| Bridgewater Associates, LP | $9,620,820 | 199,024 | 0.40% | Shares |
| CAXTON ASSOCIATES LLP | $9,339,143 | 193,197 | 0.38% | Shares |
| Public Sector Pension Investment Board | $8,677,852 | 179,517 | 0.36% | Shares |
| ALPS ADVISORS INC | $7,909,342 | 163,619 | 0.33% | Shares |
| Aventail Capital Group, LP | $7,529,583 | 155,763 | 0.31% | Shares |
| MARSHALL WACE, LLP | $7,182,648 | 148,586 | 0.30% | Shares |
| Bank of New York Mellon Corp | $6,888,692 | 142,505 | 0.28% | Shares |
| MILLER HOWARD INVESTMENTS INC /NY | $6,706,450 | 138,735 | 0.28% | Shares |
| Susquehanna Portfolio Strategies, LLC | $6,624,369 | 137,037 | 0.27% | Shares |
| Covalis Capital LLP | $6,573,418 | 135,983 | 0.27% | Shares |
| BancorpSouth Bank | $6,553,529 | 181,790 | 0.27% | Shares |
| BlackRock, Inc. | $6,351,973 | 131,402 | 0.26% | Shares |
| RHUMBLINE ADVISERS | $6,141,385 | 127,046 | 0.25% | Shares |
| Allianz Asset Management GmbH | $6,054,488 | 125,248 | 0.25% | Shares |
| ALGERT GLOBAL LLC | $5,987,876 | 123,870 | 0.25% | Shares |
| FIRST TRUST ADVISORS LP | $5,753,330 | 119,018 | 0.24% | Shares |
| CALDWELL SUTTER CAPITAL, INC. | $5,690,875 | 117,726 | 0.23% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $5,644,995 | 116,777 | 0.23% | Shares |
| BANK OF AMERICA CORP /DE/ | $5,641,568 | 116,706 | 0.23% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $5,291,973 | 109,474 | 0.22% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $5,128,874 | 106,100 | 0.21% | Shares |
| Swiss National Bank | $5,114,372 | 105,800 | 0.21% | Shares |
| Quantinno Capital Management LP | $5,096,987 | 105,440 | 0.21% | Shares |
| RAYMOND JAMES FINANCIAL INC | $5,024,627 | 103,943 | 0.21% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $4,995,821 | 103,348 | 0.21% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $4,460,767 | 92,279 | 0.18% | Shares |
| Jump Financial, LLC | $4,398,940 | 91,000 | 0.18% | Shares |
| WOODLEY FARRA MANION PORTFOLIO MANAGEMENT INC | $4,048,234 | 83,745 | 0.17% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $3,982,684 | 82,389 | 0.16% | Shares |
| Legal & General Group Plc | $3,866,862 | 79,993 | 0.16% | Shares |
| ALLIANCEBERNSTEIN L.P. | $3,695,523 | 76,338 | 0.15% | Shares |
| UBS Group AG | $3,681,526 | 76,159 | 0.15% | Shares |
| XTX Topco Ltd | $3,502,861 | 72,463 | 0.14% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $3,144,324 | 65,046 | 0.13% | Shares |
| Corient Private Wealth LP | $3,021,348 | 62,502 | 0.12% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $2,840,069 | 58,667 | 0.12% | Shares |
| Squarepoint Ops LLC | $2,789,701 | 57,710 | 0.11% | Shares |
| Rockefeller Capital Management L.P. | $2,627,709 | 54,358 | 0.11% | Shares |
| PRUDENTIAL FINANCIAL INC | $2,599,242 | 53,770 | 0.11% | Shares |
| Cerity Partners LLC | $2,589,057 | 53,559 | 0.11% | Shares |
| HITE Hedge Asset Management LLC | $2,556,654 | 52,889 | 0.11% | Shares |
| Uniplan Investment Counsel, Inc. | $2,441,860 | 50,514 | 0.10% | Shares |
| Hudson Bay Capital Management LP | $2,332,550 | 48,253 | 0.10% | Shares |
| NewEdge Advisors, LLC | $2,232,668 | 46,187 | 0.09% | Shares |
| COMMONWEALTH EQUITY SERVICES, LLC | $2,175,460 | 45,003 | 0.09% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $2,064,118 | 42,700 | 0.09% | Put option |
| JANE STREET GROUP, LLC | $2,006,110 | 41,500 | 0.08% | Put option |
| HighTower Advisors, LLC | $1,849,596 | 38,262 | 0.08% | Shares |
| NOMURA HOLDINGS INC | $1,831,264 | 37,883 | 0.08% | Shares |
| Kingsview Wealth Management, LLC | $1,807,968 | 37,347 | 0.07% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $1,790,949 | 37,049 | 0.07% | Shares |
| SL ADVISORS, LLC | $1,703,887 | 35,197 | 0.07% | Shares |
| DIVERSIFY WEALTH MANAGEMENT, LLC | $1,652,692 | 33,846 | 0.07% | Shares |
| Diversify Advisory Services, LLC | $1,652,692 | 33,846 | 0.07% | Shares |
| CITADEL ADVISORS LLC | $1,566,216 | 32,400 | 0.06% | Call option |
| SIR Capital Management, L.P. | $1,565,781 | 32,391 | 0.06% | Shares |
| MetLife Investment Management, LLC | $1,457,693 | 30,155 | 0.06% | Shares |
| Bramshill Investments, LLC | $1,421,728 | 29,411 | 0.06% | Shares |
Company insiders 30 insiders · 4 officers · 6 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Jamie Welch | Chief Executive Officer and President | May 9, 2025 A | 3,669,560 | 0 | 0 | $0 |
| Terry A Hart | Former CFO | Dec. 21, 2018 J | 44,411 | 0 | 0 | $0 |
| Anne Psencik | Chief Strategy Officer Exhibit List: Exhibit 24- Power of Attorney | March 7, 2025 A | 273,751 | 0 | 0 | $0 |
| Todd Carpenter | General Counsel, Assistant Secretary, Chief Compliance Officer | Dec. 16, 2024 A | 276,295 | 0 | 0 | $0 |
| Laura A Sugg | Director | Aug. 14, 2026 S | 20,910 | 0 | 1 | $-3,196,655 |
| Craig Harris | Director | June 24, 2026 A | 1,755 | 0 | 0 | $0 |
| Kevin S Mccarthy | Director | May 20, 2024 A | 103,357 | 0 | 0 | $0 |
| William Ordemann | Director | May 20, 2024 A | 3,909 | 0 | 0 | $0 |
| Mark D Leland | Director | May 20, 2024 A | 19,722 | 0 | 0 | $0 |
| Deborah L Byers | — | Aug. 12, 2026 S | 24,389 | 0 | 1 | $-141,086 |
| Trevor Howard | — | Aug. 7, 2026 A | 260,641 | 0 | 0 | $0 |
| Matthew Wall | — | Aug. 7, 2026 A | 597,720 | 0 | 0 | $0 |
| Lindsay Ellis | — | Aug. 7, 2026 A | 56,636 | 0 | 0 | $0 |
| Steven Stellato | — | Aug. 7, 2026 A | 404,228 | 0 | 0 | $0 |
| Joe C Frana | — | Feb. 22, 2022 M | 0 | 0 | 0 | $0 |
| Robert S Purgason | — | Feb. 22, 2022 M | 25,945 | 0 | 0 | $0 |
| Mark A Borer | — | Feb. 22, 2022 M | 3,798 | 0 | 0 | $0 |
| Clay D. Bretches | — | Feb. 1, 2022 P | 24,970 | 0 | 0 | $0 |
| Stephen J Riney | — | March 3, 2020 I | 100,000 | 0 | 0 | $0 |
| John J Christmann | — | March 3, 2020 I | 130,000 | 0 | 0 | $0 |
| Charles Douglas Johnson | — | Dec. 19, 2019 A | — | 0 | 0 | $0 |
| Anthony P Lannie | — | Nov. 4, 2019 S | 0 | 0 | 0 | $0 |
| Robert V Sinnott | — | Dec. 21, 2018 J | 350,000 | 0 | 0 | $0 |
| Brian W Freed | — | Dec. 17, 2018 J | 76,500 | 0 | 0 | $0 |
| Ben C Rodgers | — | Dec. 17, 2018 J | 5,000 | 0 | 0 | $0 |
| Staci Burns | — | Dec. 17, 2018 J | 2,500 | 0 | 0 | $0 |
| Dominic Ricotta | — | Dec. 17, 2018 J | 10,000 | 0 | 0 | $0 |
| Robert W. Bourne | — | Dec. 17, 2018 J | 25,000 | 0 | 0 | $0 |
| William Mark Meyer | — | Dec. 17, 2018 J | 7,500 | 0 | 0 | $0 |
| Jon W Sauer | — | Dec. 17, 2018 J | 15,000 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 7 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| ISQ Global Fund II GP LLC, I Squared Capital, LLC, ISQ Holdings, LLC, Wahba Sadek, Bhandari Gautam ×6 filings | May 4, 2026 | 21.90% | Amendment | — | SEC |
| BCP Raptor Aggregator, LP, BX Permian Pipeline Aggregator LP, BCP VII/BEP II Holdings Manager L.L.C., Blackstone Energy Management Associates II L.L.C., Blackstone Management Associates VII L.L.C., Blackstone EMA II L.L.C., BMA VII L.L.C., Blackstone Holdings III L.P., Blackstone Holdings III GP L.P., Blackstone Holdings III GP Management L.L.C., Blackstone Inc., Blackstone Group Management L.L.C., Stephen A. Schwarzman ×9 filings | March 11, 2024 | — | Initial filing | — | SEC |
| ISQ Global Fund II GP, LLC, I Squared Capital, LLC, ISQ Holdings, LLC ×9 filings | March 11, 2024 | — | Initial filing | — | SEC |
| BCP Raptor Holdco, LP, BCP Raptor Holdco GP, LLC, BCP Raptor Manager LLC, Blackstone Energy Management Associates II L.L.C., Blackstone Management Associates VII L.L.C., BMA VII L.L.C., Blackstone EMA II L.L.C., Blackstone Holdings III L.P., Blackstone Holdings III GP L.P., Blackstone Holdings III GP Management L.L.C., Blackstone Inc., Blackstone Group Management L.L.C., Stephen A. Schwarzman ×3 filings | Feb. 10, 2022 | — | Initial filing | — | SEC |
| APA Corporation, Apache Midstream LLC(1) | Nov. 10, 2021 | — | Initial filing | — | SEC |
| Apache Corporation, Apache Midstream LLC (1) ×2 filings | March 11, 2019 | — | Initial filing | — | SEC |
| (A) Kayne Anderson Capital Advisors, L.P. (B) Richard A. Kayne ×3 filings | Dec. 27, 2018 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 79 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| MVFD · Northern Lights Fund Trust IV | 2.37% | 55,857 NS | May 31, 2026 | N-PORT |
| USAI · Pacer Funds Trust | 1.26% | 27,132 NS | April 30, 2026 | N-PORT |
| VRAI · ETFis Series Trust I | 1.13% | 4,111 NS | April 30, 2026 | N-PORT |
| NBET · Neuberger Berman ETF Trust | 1.12% | 9,965 NS | April 30, 2026 | N-PORT |
| ENFR · ALPS ETF Trust | 1.06% | 105,690 NS | May 31, 2026 | N-PORT |
| LNGX · Global X Funds | 0.85% | 10,630 NS | May 31, 2026 | N-PORT |
| GYLD · ARROW ETF TRUST | 0.73% | 4,573 NS | April 30, 2026 | N-PORT |
| MLPX · Global X Funds | 0.63% | 486,760 NS | May 31, 2026 | N-PORT |
| TPYP · Tortoise Capital Series Trust | 0.58% | 105,420 NS | May 31, 2026 | N-PORT |
| ESSC · Strategy Shares | 0.40% | 2,047 NS | April 30, 2026 | N-PORT |
| FYC · First Trust Exchange-Traded AlphaDE… | 0.34% | 71,002 NS | April 30, 2026 | N-PORT |
| EBIT · Harbor ETF Trust | 0.32% | 718 NS | April 30, 2026 | N-PORT |
| JPSE · J.P. Morgan Exchange-Traded Fund Tr… | 0.20% | 23,186 NS | April 30, 2026 | N-PORT |
| FENY · FIDELITY COVINGTON TRUST | 0.13% | 52,660 NS | April 30, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.13% | 18,230 NS | April 30, 2026 | N-PORT |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.12% | 28,604 NS | April 30, 2026 | N-PORT |
| SXQG · EXCHANGE TRADED CONCEPTS TRUST | 0.11% | 1,608 NS | May 31, 2026 | N-PORT |
| BKSE · BNY Mellon ETF Trust | 0.09% | 1,514 NS | April 30, 2026 | N-PORT |
| SAA · ProShares Trust | 0.09% | 544 NS | May 31, 2026 | N-PORT |
| RSSL · Global X Funds | 0.07% | 20,212 NS | April 30, 2026 | N-PORT |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.07% | 6,622 NS | April 30, 2026 | N-PORT |
| AMZA · ETFis Series Trust I | 0.06% | 5,077 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.05% | 2,192 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.05% | 138,087 NS | April 30, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.04% | 218,382 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.03% | 1,715 NS | May 31, 2026 | N-PORT |
| AVIE · AMERICAN CENTURY ETF TRUST | 0.03% | 57 NS | May 31, 2026 | N-PORT |
| NFRA · FlexShares Trust | 0.02% | 14,848 NS | April 30, 2026 | N-PORT |
| URTY · ProShares Trust | 0.02% | 1,733 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.01% | 1,747 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.01% | 44 NS | May 31, 2026 | N-PORT |
| AVMC · AMERICAN CENTURY ETF TRUST | 0.01% | 689 NS | May 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.01% | 57,595 NS | April 30, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 9,785 NS | April 30, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 2,537 NS | April 30, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 13,035 NS | April 30, 2026 | N-PORT |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 26,309 NS | May 31, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.00% | 202 NS | April 30, 2026 | N-PORT |
| GUSA · Goldman Sachs ETF Trust II | 0.00% | 1,325 NS | May 31, 2026 | N-PORT |
| AVLC · AMERICAN CENTURY ETF TRUST | 0.00% | 155 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VBK · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VBR · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VCRB · VANGUARD MALVERN FUNDS | — | — | July 15, 2026 | Daily |
| VPLS · VANGUARD MALVERN FUNDS | — | — | July 15, 2026 | Daily |
| VIOO · VANGUARD ADMIRAL FUNDS | — | — | July 15, 2026 | Daily |
| VIOG · VANGUARD ADMIRAL FUNDS | — | — | July 30, 2026 | Daily |
| VIOV · VANGUARD ADMIRAL FUNDS | — | — | July 15, 2026 | Daily |