Altus Midstream (NYSE:ALTM) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Altus Midstream (NYSE:ALTM) from a sell rating to a hold rating in a research report sent to investors on Friday morning, 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. “

Other research analysts have also issued research reports about the company. Citigroup upgraded Neste Oyj from a neutral rating to a buy rating in a research report on Monday, June 10th. Barclays set a €45.00 ($52.33) target price on Zalando and gave the company a buy rating in a research report on Tuesday, April 16th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Altus Midstream has an average rating of Hold and an average price target of $7.56.



Shares of NYSE:ALTM opened at $3.54 on Friday. Altus Midstream has a 1 year low of $3.10 and a 1 year high of $10.48. The company’s 50 day simple moving average is $4.00.

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

In other Altus Midstream news, CEO D. Clay Bretches bought 15,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were purchased at an average price of $3.64 per share, for a total transaction of $54,600.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders have bought a total of 55,000 shares of company stock worth $243,000 in the last quarter.

Hedge funds have recently made changes to their positions in the business. Comerica Securities Inc. purchased a new stake in shares of Altus Midstream in the 4th quarter worth about $106,000. Geode Capital Management LLC purchased a new stake in shares of Altus Midstream in the 4th quarter worth about $95,000. Harvest Fund Advisors LLC purchased a new stake in shares of Altus Midstream in the 4th quarter worth about $1,221,000. Millennium Management LLC purchased a new stake in shares of Altus Midstream in the 4th quarter worth about $806,000. Finally, Deutsche Bank AG purchased a new stake in shares of Altus Midstream in the 4th quarter worth about $1,600,000.

Altus Midstream Company Profile

There is no company description available for Altus Midstream Co

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