Altus Midstream (NYSE:ALTM) is HITE Hedge Asset Management LLC’s 7th Largest Position

HITE Hedge Asset Management LLC lifted its holdings in Altus Midstream (NYSE:ALTM) by 20.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,364,796 shares of the company’s stock after acquiring an additional 750,525 shares during the quarter. Altus Midstream accounts for 4.1% of HITE Hedge Asset Management LLC’s holdings, making the stock its 7th biggest position. HITE Hedge Asset Management LLC owned approximately 0.09% of Altus Midstream worth $25,752,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ALTM. Kayne Anderson Capital Advisors LP acquired a new stake in shares of Altus Midstream in the fourth quarter valued at about $118,970,000. Tortoise Capital Advisors L.L.C. grew its position in shares of Altus Midstream by 1.2% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 3,438,264 shares of the company’s stock valued at $20,286,000 after purchasing an additional 40,090 shares during the period. Citigroup Inc. acquired a new stake in shares of Altus Midstream in the fourth quarter valued at about $8,282,000. BlackRock Inc. acquired a new stake in shares of Altus Midstream in the first quarter valued at about $2,299,000. Finally, Associated Banc Corp acquired a new stake in shares of Altus Midstream in the first quarter valued at about $2,065,000.

Shares of NYSE ALTM traded down $0.14 during trading on Wednesday, hitting $4.50. The company had a trading volume of 18,859 shares, compared to its average volume of 477,021. Altus Midstream has a fifty-two week low of $4.47 and a fifty-two week high of $10.48.

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 company had revenue of $33.85 million during the quarter.

Several brokerages have recently issued reports on ALTM. Zacks Investment Research lowered shares of Altus Midstream from a “hold” rating to a “sell” rating in a research report on Monday, March 18th. Barclays lowered shares of Altus Midstream from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $10.00 to $7.00 in a research report on Tuesday, April 16th. Finally, Citigroup dropped their target price on shares of Altus Midstream from $7.00 to $5.50 and set a “neutral” rating on the stock in a research report on Monday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Altus Midstream currently has an average rating of “Hold” and a consensus target price of $7.56.

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

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Altus Midstream Company Profile

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Institutional Ownership by Quarter for Altus Midstream (NYSE:ALTM)

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