Altus Midstream (NYSE:ALTM) Rating Lowered to Sell at Zacks Investment Research

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Zacks Investment Research cut shares of Altus Midstream (NYSE:ALTM) from a hold rating to a sell rating in a research report sent to investors on Friday, 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 equities research analysts have also issued reports on the stock. Barclays set a €45.00 ($52.33) target price on shares of Zalando and gave the stock a buy rating in a report on Tuesday, April 16th. Citigroup raised shares of Neste Oyj from a neutral rating to a buy rating in a report on Monday, June 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $7.56.

Altus Midstream stock opened at $3.81 on Friday. The business has a 50 day moving average price of $4.12. Altus Midstream has a 12-month low of $3.48 and a 12-month high of $10.48.

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

In related news, CEO D. Clay Bretches acquired 15,000 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was acquired at an average cost of $3.64 per share, with a total value of $54,600.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last ninety days, insiders have acquired 55,000 shares of company stock valued at $243,000.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Squar Milner Financial Services LLC purchased a new stake in Altus Midstream during the 1st quarter valued at approximately $25,000. Comerica Bank bought a new position in shares of Altus Midstream during the 1st quarter valued at approximately $68,000. Geode Capital Management LLC bought a new position in shares of Altus Midstream during the 4th quarter valued at approximately $95,000. Comerica Securities Inc. bought a new position in shares of Altus Midstream during the 4th quarter valued at approximately $106,000. Finally, Cohen & Steers Inc. bought a new position in shares of Altus Midstream during the 4th quarter valued at approximately $126,000.

Altus Midstream Company Profile

There is no company description available for Altus Midstream Co

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