Altus Midstream (NYSE:ALTM) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Altus Midstream (NYSE:ALTM) from a sell rating to a hold rating in a report published on Monday, 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. “

ALTM has been the subject of a number of other research reports. Barclays lowered Altus Midstream from an overweight rating to an equal weight rating and lowered their price target for the company from $10.00 to $7.00 in a research report on Tuesday, April 16th. Citigroup lowered their price target on Altus Midstream from $7.00 to $5.50 and set a neutral rating for the company 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. The stock has an average rating of Hold and an average price target of $7.56.

ALTM opened at $4.43 on Monday. Altus Midstream has a one year low of $4.32 and a one year high of $10.48.

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

In other news, CEO D. Clay Bretches bought 20,000 shares of Altus Midstream stock in a transaction on Tuesday, May 21st. The shares were purchased at an average price of $5.20 per share, for a total transaction of $104,000.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Kayne Anderson Capital Advisor sold 221,600 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $6.03, for a total value of $1,336,248.00. The disclosure for this sale can be found here.

Several hedge funds have recently bought and sold shares of ALTM. Comerica Securities Inc. purchased a new position in shares of Altus Midstream during the 4th quarter worth approximately $106,000. HITE Hedge Asset Management LLC purchased a new stake in shares of Altus Midstream in the 4th quarter worth approximately $27,938,000. Investment House LLC purchased a new stake in shares of Altus Midstream in the 4th quarter worth approximately $696,000. Usca Ria LLC purchased a new stake in shares of Altus Midstream in the 4th quarter worth approximately $176,000. Finally, Citigroup Inc. purchased a new stake in shares of Altus Midstream in the 4th quarter worth approximately $8,282,000.

Altus Midstream Company Profile

There is no company description available for Altus Midstream Co

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