Benzinga | Sep 21, 2020 03:07PM EDT

Why Altus Midstream And Halliburton Are Trading Lower Today

Altus Midstream (NASDAQ:ALTM) and Halliburton Company (NYSE:HAL) shares are trading lower on Monday amid weakness in the price of oil.

Altus Midstream owns natural gas gathering, processing, and transmission assets including transmission and gathering pipelines, compressor stations, mechanical refrigeration units, cryogenic units and associated gas treatment facilities in the Permian Basin of West Texas. The majority of the revenue is generated from gas processing services.

Halliburton is the world's second-largest oilfield services company. Building from its origins pioneering oil and gas well cementing in the 1920s, Halliburton has evolved into the premier wellbore engineering company, with leading business lines in cementing, completion equipment, and pressure pumping.

Altus Midstream shares were trading down 3.09% at $11.61 on Monday at the time of publication. The stock has a 52-week high of $61 and a 52-week low of $9.40.

Halliburton Company shares were trading down 9.97% at $14. The stock has a 52-week high of $25.46 and a 52-week low of $5.25.