Brokerages Anticipate Altus Midstream (NYSE:ALTM) to Post $0.00 Earnings Per Share

Altus Midstream (NYSE:ALTM) has earned an average broker rating score of 2.67 (Hold) from the three brokers that cover the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Altus Midstream’s rating score has declined by 6.8% from three months ago as a result of a number of analysts’ ratings changes.

Brokerages have set a 12-month consensus target price of $4.17 for the company, according to Zacks. Zacks has also given Altus Midstream an industry rank of 149 out of 255 based on the ratings given to related companies.

A number of research firms recently issued reports on ALTM. Citigroup dropped their price objective on shares of Altus Midstream from $5.50 to $3.50 and set a “neutral” rating on the stock in a report on Monday, September 30th. Zacks Investment Research cut Altus Midstream from a “hold” rating to a “sell” rating in a report on Thursday. Barclays reiterated a “hold” rating and set a $3.00 target price on shares of Altus Midstream in a research report on Wednesday, October 16th. Finally, Credit Suisse Group lowered Altus Midstream from an “outperform” rating to a “neutral” rating in a report on Thursday, October 31st.

Altus Midstream stock opened at $2.04 on Friday. The business’s fifty day moving average is $2.10 and its 200 day moving average is $3.04. Altus Midstream has a one year low of $1.63 and a one year high of $10.48.

Altus Midstream (NYSE:ALTM) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.07) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.07). The company had revenue of $34.01 million for the quarter.

In other Altus Midstream news, CEO D. Clay Bretches purchased 20,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were acquired at an average cost of $1.69 per share, with a total value of $33,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 160,000 shares in the company, valued at $270,400. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Altus Midstream by 7.7% in the 2nd quarter. Vanguard Group Inc. now owns 2,666,523 shares of the company’s stock valued at $9,920,000 after acquiring an additional 190,327 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in Altus Midstream in the second quarter worth $74,000. United Services Automobile Association bought a new stake in shares of Altus Midstream during the second quarter worth $50,000. Richmond Hill Investments LLC boosted its stake in shares of Altus Midstream by 0.7% during the third quarter. Richmond Hill Investments LLC now owns 1,115,552 shares of the company’s stock valued at $3,157,000 after purchasing an additional 7,242 shares during the period. Finally, Strs Ohio bought a new position in Altus Midstream in the 2nd quarter worth about $49,000.

About Altus Midstream

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