Altus Midstream (ALTM) Stock Rating Lowered by Zacks Investment Research

Altus Midstream (NYSE:ALTM) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a note issued 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. “

A number of other research analysts have also recently commented on ALTM. Credit Suisse Group started coverage on shares of Altus Midstream in a report on Friday, January 4th. They issued an “outperform” rating and a $11.00 target price for the company. Barclays cut shares of Altus Midstream from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $10.00 to $7.00 in a report on Tuesday.

Shares of ALTM stock traded down $0.42 on Friday, reaching $5.00. The company had a trading volume of 1,182,691 shares, compared to its average volume of 440,235. Altus Midstream has a one year low of $4.83 and a one year high of $10.48.

In related news, major shareholder Kayne Anderson Capital Advisor sold 223,600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $6.13, for a total value of $1,370,668.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders sold 552,314 shares of company stock valued at $3,466,354.

A number of large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC bought a new stake in Altus Midstream in the 4th quarter valued at about $95,000. Opera Trading Capital acquired a new position in Altus Midstream in the 4th quarter worth $103,000. Comerica Securities Inc. acquired a new position in Altus Midstream in the 4th quarter worth $106,000. Cohen & Steers Inc. acquired a new position in Altus Midstream in the 4th quarter worth $126,000. Finally, Tortoise Index Solutions LLC acquired a new position in Altus Midstream in the 4th quarter worth $156,000.

Altus Midstream Company Profile

There is no company description available for Altus Midstream Co

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