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

Share on StockTwits

Zacks Investment Research upgraded shares of Altus Midstream (NYSE:ALTM) from a sell rating to a hold rating in a research note issued 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. “

A number of other research firms have also weighed in on ALTM. Barclays set a €45.00 ($52.33) price objective on shares of Zalando and gave the stock a buy rating in a research note on Tuesday, April 16th. Citigroup raised shares of Neste Oyj from a neutral rating to a buy rating in a research note on Monday, June 10th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $7.56.

Shares of ALTM opened at $3.54 on Friday. Altus Midstream has a 12-month low of $3.10 and a 12-month high of $10.48. The company’s fifty day moving average is $4.00.

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

In other news, CEO D. Clay Bretches purchased 20,000 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was acquired at an average cost of $4.22 per share, with a total value of $84,400.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have acquired 55,000 shares of company stock valued at $243,000.

Several hedge funds have recently added to or reduced their stakes in ALTM. Squar Milner Financial Services LLC acquired a new position in shares of Altus Midstream during the first quarter valued at about $25,000. Comerica Bank acquired a new position in shares of Altus Midstream during the first quarter valued at about $68,000. Geode Capital Management LLC acquired a new position in shares of Altus Midstream during the fourth quarter valued at about $95,000. Comerica Securities Inc. acquired a new position in shares of Altus Midstream during the fourth quarter valued at about $106,000. Finally, Alphasimplex Group LLC acquired a new position in shares of Altus Midstream during the first quarter valued at about $347,000.

About Altus Midstream

There is no company description available for Altus Midstream Co

Further Reading: What is a recession?

Get a free copy of the Zacks research report on Altus Midstream (ALTM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Altus Midstream Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altus Midstream and related companies with MarketBeat.com's FREE daily email newsletter.