Altus Midstream (NYSE:ALTM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, Zacks.com reports. The firm currently has a $6.75 target price on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 16.18% from the company’s current price.

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. “

Separately, 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 price objective for the company.

NYSE ALTM opened at $5.81 on Tuesday. Altus Midstream has a 12-month low of $5.08 and a 12-month high of $10.48.

In other Altus Midstream news, major shareholder Kayne Anderson Capital Advisor sold 223,600 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $6.13, for a total value of $1,370,668.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 552,314 shares of company stock valued at $3,466,354 in the last three months.

Several institutional investors have recently modified their holdings of ALTM. Kepos Capital LP bought a new stake in shares of Altus Midstream during the 3rd quarter worth approximately $10,425,000. Opera Trading Capital bought a new stake in shares of Altus Midstream during the 4th quarter worth approximately $103,000. Albert D Mason Inc. bought a new stake in shares of Altus Midstream during the 4th quarter worth approximately $358,000. State Treasurer State of Michigan bought a new stake in shares of Altus Midstream during the 4th quarter worth approximately $27,055,000. Finally, Comerica Securities Inc. bought a new stake in shares of Altus Midstream during the 4th quarter worth approximately $106,000.

Altus Midstream Company Profile

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