Altus Midstream (ALTM) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Altus Midstream (NYSE:ALTM) from a buy rating to a sell rating in a research report sent to investors on Friday morning, 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 equities research analysts also recently commented on the company. Credit Suisse Group started coverage on Altus Midstream in a research report on Friday, January 4th. They issued an outperform rating and a $11.00 target price on the stock. Barclays downgraded Altus Midstream from an overweight rating to an equal weight rating and reduced their target price for the company from $10.00 to $7.00 in a research report on Tuesday, April 16th.

NYSE:ALTM opened at $5.00 on Friday. Altus Midstream has a 52 week low of $4.83 and a 52 week high of $10.48.

In other Altus Midstream news, major shareholder Kayne Anderson Capital Advisor sold 221,600 shares of Altus Midstream stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is available at this link. Insiders sold 552,314 shares of company stock worth $3,466,354 in the last 90 days.

A number of large investors have recently bought and sold shares of ALTM. Tibra Equities Europe Ltd purchased a new position in shares of Altus Midstream during the 1st quarter worth approximately $704,000. Deutsche Bank AG purchased a new position in shares of Altus Midstream during the 4th quarter worth approximately $1,600,000. Geode Capital Management LLC purchased a new position in shares of Altus Midstream during the 4th quarter worth approximately $95,000. Millennium Management LLC purchased a new position in shares of Altus Midstream during the 4th quarter worth approximately $806,000. Finally, Harvest Fund Advisors LLC purchased a new position in shares of Altus Midstream during the 4th quarter worth approximately $1,221,000.

About Altus Midstream

There is no company description available for Altus Midstream Co

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