Altus Midstream (NYSE:ALTM) Upgraded by Zacks Investment Research to Hold

Altus Midstream (NYSE:ALTM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday, Zacks.com reports.

According to Zacks, “Altus Midstream Company is a pure-play, Permian Basin midstream C-corporation. The company or its subsidiaries own substantially all of the gas gathering, processing and transportation assets servicing Apache Corporation’s production in the Alpine High play in the Delaware Basin. Altus Midstream Company, formerly known as Kayne Anderson Acquisition Corporation, is based in Houston, United States. “

Several other research firms have also recently commented on ALTM. Barclays cut Altus Midstream from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $10.00 to $7.00 in a research note on Tuesday, April 16th. Citigroup lowered their target price on Altus Midstream from $7.00 to $5.50 and set a “neutral” rating for the company in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Altus Midstream has an average rating of “Hold” and a consensus price target of $7.56.



Shares of ALTM opened at $4.64 on Monday. Altus Midstream has a 52-week low of $4.47 and a 52-week high of $10.48.

Altus Midstream (NYSE:ALTM) last released its earnings results on Thursday, May 2nd. The company reported $0.01 EPS for the quarter. The firm had revenue of $33.85 million during the quarter.

In related news, major shareholder Kayne Anderson Capital Advisor sold 221,600 shares of Altus Midstream stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $6.03, for a total transaction of $1,336,248.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO D. Clay Bretches acquired 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were bought at an average cost of $5.20 per share, with a total value of $104,000.00. The disclosure for this purchase can be found here.

Several institutional investors have recently made changes to their positions in the stock. Squar Milner Financial Services LLC acquired a new stake in shares of Altus Midstream during the first quarter worth $25,000. JPMorgan Chase & Co. acquired a new stake in shares of Altus Midstream during the first quarter worth $26,000. Cresset Asset Management LLC acquired a new stake in shares of Altus Midstream during the first quarter worth $30,000. Comerica Bank acquired a new stake in shares of Altus Midstream during the first quarter worth $68,000. Finally, Geode Capital Management LLC acquired a new stake in shares of Altus Midstream during the fourth quarter worth $95,000.

Altus Midstream Company Profile

There is no company description available for Altus Midstream Co

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