Altus Midstream (NASDAQ:ALTM) CEO D. Clay Bretches Acquires 200 Shares

Altus Midstream (NASDAQ:ALTM) CEO D. Clay Bretches acquired 200 shares of the business’s stock in a transaction dated Thursday, May 13th. The stock was purchased at an average price of $63.75 per share, with a total value of $12,750.00. Following the completion of the acquisition, the chief executive officer now directly owns 23,170 shares in the company, valued at approximately $1,477,087.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of NASDAQ:ALTM opened at $63.74 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.23 and a debt-to-equity ratio of 7.97. The stock has a market cap of $1.04 billion, a PE ratio of -0.64 and a beta of 3.97. The company’s fifty day moving average is $57.62 and its 200 day moving average is $51.55. Altus Midstream has a 52 week low of $9.44 and a 52 week high of $69.94.

Altus Midstream (NASDAQ:ALTM) last announced its quarterly earnings data on Thursday, February 25th. The company reported ($5.58) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($6.06). Altus Midstream had a negative net margin of 255.68% and a negative return on equity of 1,952.50%. The company had revenue of $35.40 million for the quarter. Sell-side analysts anticipate that Altus Midstream will post 3.49 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Friday, May 28th will be paid a $1.50 dividend. The ex-dividend date is Thursday, May 27th. This represents a $6.00 dividend on an annualized basis and a yield of 9.41%. Altus Midstream’s dividend payout ratio (DPR) is currently 3.42%.

Separately, Zacks Investment Research upgraded Altus Midstream from a “sell” rating to a “hold” rating and set a $73.00 target price for the company in a research report on Tuesday, May 11th.

Hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. grew its holdings in shares of Altus Midstream by 7.3% in the first quarter. Pacer Advisors Inc. now owns 6,242 shares of the company’s stock worth $328,000 after purchasing an additional 423 shares during the last quarter. Geode Capital Management LLC raised its holdings in Altus Midstream by 1.9% during the 1st quarter. Geode Capital Management LLC now owns 30,901 shares of the company’s stock valued at $1,621,000 after buying an additional 576 shares during the last quarter. Dorsey Wright & Associates purchased a new stake in Altus Midstream during the 1st quarter valued at $41,000. Optimum Investment Advisors bought a new stake in Altus Midstream in the 1st quarter worth $58,000. Finally, Segantii Capital Management Ltd bought a new position in shares of Altus Midstream during the first quarter valued at about $111,000. Hedge funds and other institutional investors own 12.72% of the company’s stock.

About Altus Midstream

Altus Midstream Company owns gas gathering, processing, and transmission assets in the Permian Basin of West Texas. As of December 31, 2019, its assets included approximately 178 miles of in-service natural gas gathering, 55 miles of residue gas, and 38 miles of natural gas liquids (NGL) pipelines; three cryogenic processing trains; and an NGL truck loading terminal with six lease automatic custody transfer units and eight NGL bullet tanks.

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