In a report released yesterday, Christopher Tillett from Barclays maintained a Hold rating on Altus Midstream Company (ALTM), with a price target of $3.00. The company’s shares closed last Monday at $2.25, close to its 52-week low of $2.18.
According to TipRanks.com, Tillett is a 2-star analyst with an average return of 1.5% and a 38.9% success rate. Tillett covers the Basic Materials sector, focusing on stocks such as Antero Midstream Corporation, Western Midstream Partners, and Dcp Midstream Partners Lp.
Currently, the analyst consensus on Altus Midstream Company is a Hold with an average price target of $3.25, representing a 34.3% upside. In a report issued on September 30, Citigroup also maintained a Hold rating on the stock with a $3.50 price target.
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Based on Altus Midstream Company’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $2.29 million. In comparison, last year the company had a GAAP net loss of $953.7K.
Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ALTM in relation to earlier this year.
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Altus Midstream Co. engages in the ownership of gas gathering, processing, and transmission assets. It focuses on the Permian Basin of West Texas. The company was founded on December 12, 2016 and is headquartered in Houston, TX.
