Altus Midstream (ALTM) Raised to Hold at Zacks Investment Research

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Altus Midstream (NYSE:ALTM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday, 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 topic of a number of other reports. Credit Suisse Group assumed coverage on shares of Altus Midstream in a research report on Friday, January 4th. They set an “outperform” rating and a $11.00 price objective on the stock. Barclays downgraded shares of Altus Midstream from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $10.00 to $7.00 in a research report on Tuesday, April 16th.

Shares of NYSE:ALTM traded down $0.15 during trading on Thursday, reaching $5.10. The company had a trading volume of 3,871 shares, compared to its average volume of 450,454. Altus Midstream has a twelve month low of $4.83 and a twelve month high of $10.48.

In other Altus Midstream news, major shareholder Kayne Anderson Capital Advisor sold 107,114 shares of the stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $7.09, for a total transaction of $759,438.26. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold a total of 552,314 shares of company stock valued at $3,466,354 in the last quarter.

Several large investors have recently made changes to their positions in ALTM. Kayne Anderson Capital Advisors LP bought a new position in shares of Altus Midstream in the fourth quarter valued at $118,970,000. HITE Hedge Asset Management LLC acquired a new position in Altus Midstream in the fourth quarter valued at about $27,938,000. State Treasurer State of Michigan acquired a new position in Altus Midstream during the fourth quarter worth about $27,055,000. Tortoise Capital Advisors L.L.C. acquired a new position in Altus Midstream during the fourth quarter worth about $26,268,000. Finally, Citigroup Inc. acquired a new position in Altus Midstream during the fourth quarter worth about $8,282,000.

Altus Midstream Company Profile

There is no company description available for Altus Midstream Co

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