Shares of Altus Midstream (NYSE:ALTM) reached a new 52-week low on Wednesday . The stock traded as low as $4.34 and last traded at $4.35, with a volume of 35531 shares changing hands. The stock had previously closed at $4.64.

Several analysts have weighed in on ALTM shares. Zacks Investment Research raised Altus Midstream from a “hold” rating to a “buy” rating and set a $6.75 price objective on the stock in a research report on Tuesday, April 9th. Barclays cut Altus Midstream from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $10.00 to $7.00 in a research report on Tuesday, April 16th. Finally, Citigroup cut their price objective on Altus Midstream from $7.00 to $5.50 and set a “neutral” rating on the stock in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $7.56.

Altus Midstream (NYSE:ALTM) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.01 EPS for the quarter. The company had revenue of $33.85 million during the quarter.

In related news, CEO D. Clay Bretches purchased 20,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were purchased at an average cost of $5.20 per share, with a total value of $104,000.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Kayne Anderson Capital Advisor sold 221,600 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here.

Institutional investors and hedge funds have recently modified their holdings of the company. Tortoise Capital Advisors L.L.C. boosted its position in shares of Altus Midstream by 1.2% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 3,438,264 shares of the company’s stock worth $20,286,000 after purchasing an additional 40,090 shares in the last quarter. Citigroup Inc. bought a new stake in shares of Altus Midstream in the 4th quarter worth approximately $8,282,000. Investment House LLC bought a new stake in shares of Altus Midstream in the 4th quarter worth approximately $696,000. Harvest Fund Advisors LLC bought a new stake in shares of Altus Midstream in the 4th quarter worth approximately $1,221,000. Finally, Usca Ria LLC bought a new stake in shares of Altus Midstream in the 4th quarter worth approximately $176,000.

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About Altus Midstream (NYSE:ALTM)

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