Form 4: Apache Corp Reports Sale of Kinetik Holdings Inc. Shares
SEC Form 4
Apache Corp, a 10% owner and director of Kinetik Holdings Inc., reports the sale of a portion of its Class A Common Stock.
Summary
- On March 18, 2024, Apache Corp sold 13,079,871 shares of Kinetik Holdings Inc. Class A Common Stock.
- The sale price was $33.75 per share.
- Following the transaction, Apache Corp continues to indirectly own shares through Apache Midstream LLC, a wholly-owned subsidiary.
Sentiment
Score: 5
Explanation: Neutral sentiment as it's a report of a transaction. The impact on Kinetik Holdings Inc. depends on market perception of Apache's decision.
Industry Context
This transaction reflects a change in Apache Corp's investment in Kinetik Holdings Inc., which could be due to various strategic reasons, including portfolio rebalancing or capital allocation decisions. It's important to monitor Kinetik Holdings Inc.'s performance and any further announcements from Apache Corp regarding their stake in the company.
Stakeholder Impact
- Shareholders of Kinetik Holdings Inc. may react to the news of Apache Corp's share sale.
Key Dates
| Date | Description |
|---|---|
| 03/18/2024 | Date of transaction: Sale of Kinetik Holdings Inc. Class A Common Stock. |
| 03/20/2024 | Date of signature for the SEC filing. |
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