US Capital Advisors Equities Analysts Cut Earnings Estimates for Altus Midstream (NYSE:ALTM)

Altus Midstream (NYSE:ALTM) – Stock analysts at US Capital Advisors decreased their Q1 2020 earnings estimates for Altus Midstream in a research report issued to clients and investors on Wednesday, July 17th. US Capital Advisors analyst J. Carreker now anticipates that the company will earn $0.05 per share for the quarter, down from their prior estimate of $0.06. US Capital Advisors also issued estimates for Altus Midstream’s Q2 2020 earnings at $0.05 EPS, Q3 2020 earnings at $0.05 EPS, Q4 2020 earnings at $0.08 EPS and FY2020 earnings at $0.23 EPS.

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

A number of other equities analysts have also commented on the stock. Barclays set a €45.00 ($52.33) price objective on shares of Zalando and gave the company a “buy” rating in a research report on Tuesday, April 16th. Citigroup upgraded shares of Neste Oyj from a “neutral” rating to a “buy” rating in a research report on Monday, June 10th. Finally, Zacks Investment Research upgraded shares of Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $7.56.

ALTM stock opened at $3.54 on Thursday. The company has a 50 day moving average price of $4.00. Altus Midstream has a 12 month low of $3.10 and a 12 month high of $10.48.

In other news, CEO D. Clay Bretches acquired 20,000 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was bought at an average cost of $4.22 per share, for a total transaction of $84,400.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought 55,000 shares of company stock valued at $243,000 over the last 90 days.

A number of institutional investors have recently made changes to their positions in ALTM. Gilder Gagnon Howe & Co. LLC bought a new position in shares of Altus Midstream during the 1st quarter valued at approximately $3,221,000. HITE Hedge Asset Management LLC lifted its position in Altus Midstream by 20.8% in the first quarter. HITE Hedge Asset Management LLC now owns 4,364,796 shares of the company’s stock worth $25,752,000 after buying an additional 750,525 shares during the last quarter. Alphasimplex Group LLC bought a new stake in Altus Midstream in the first quarter worth $347,000. Tortoise Index Solutions LLC lifted its position in Altus Midstream by 217.0% in the first quarter. Tortoise Index Solutions LLC now owns 63,933 shares of the company’s stock worth $377,000 after buying an additional 43,765 shares during the last quarter. Finally, Tortoise Capital Advisors L.L.C. lifted its position in Altus Midstream by 1.2% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 3,438,264 shares of the company’s stock worth $20,286,000 after buying an additional 40,090 shares during the last quarter.

About Altus Midstream

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Earnings History and Estimates for Altus Midstream (NYSE:ALTM)

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