Insider Selling: Summit Midstream Corporation (NYSE:SMC) CEO Sells 1,000 Shares of Stock

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $37.98, for a total value of $37,980.00. Following the sale, the chief executive officer now owns 248,006 shares in the company, valued at approximately $9,419,267.88. The trade was a 0.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

J Heath Deneke also recently made the following trade(s):

• On Monday, January 13th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.63, for a total value of $37,630.00.
• On Friday, January 10th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.60, for a total transaction of $37,600.00.
• On Wednesday, January 8th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.50, for a total transaction of $37,500.00.
• On Monday, January 6th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.81, for a total transaction of $37,810.00.
• On Thursday, January 2nd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.49, for a total transaction of $37,490.00.
• On Monday, December 30th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $36.52, for a total value of $36,520.00.
• On Thursday, December 26th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $36.19, for a total value of $36,190.00.
• On Monday, December 23rd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $34.94, for a total value of $34,940.00.
• On Friday, December 20th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $34.97, for a total transaction of $34,970.00.
• On Wednesday, December 18th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.18, for a total value of $35,180.00.

Summit Midstream Stock Up 0.9 %

Shares of SMC stock traded up $0.33 during trading hours on Thursday, hitting $38.33. 139,600 shares of the company’s stock were exchanged, compared to its average volume of 79,550. Summit Midstream Corporation has a fifty-two week low of $15.56 and a fifty-two week high of $40.75. The company has a market capitalization of $408.24 million, a price-to-earnings ratio of -2.99 and a beta of 2.37. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.20. The business’s 50 day moving average price is $36.67.

Hedge Funds Weigh In On Summit Midstream

A number of large investors have recently added to or reduced their stakes in SMC. Virtus Fund Advisers LLC purchased a new stake in shares of Summit Midstream during the third quarter worth about $3,794,000. Geode Capital Management LLC acquired a new stake in Summit Midstream in the 3rd quarter worth about $3,313,000. Fractal Investments LLC purchased a new stake in Summit Midstream during the 3rd quarter worth approximately $1,576,000. Pekin Hardy Strauss Inc. acquired a new position in shares of Summit Midstream during the third quarter valued at approximately $1,311,000. Finally, Valeo Financial Advisors LLC acquired a new position in shares of Summit Midstream during the third quarter valued at approximately $529,000. 42.97% of the stock is currently owned by institutional investors and hedge funds.

About Summit Midstream

Summit Midstream Corporation focuses on owning, developing, and operating midstream energy infrastructure assets primarily shale formations in the continental United States. It operates natural gas, crude oil, and produced water gathering systems in four unconventional resource basins, including the Williston Basin in North Dakota, which includes the Bakken and Three Forks shale formations; the Denver-Julesburg Basin that consists of the Niobrara and Codell shale formations in Colorado and Wyoming; the Fort Worth Basin in Texas, which comprises the Barnett Shale formation; and the Piceance Basin in Colorado, which includes the Mesaverde formation, as well as the emerging Mancos and Niobrara Shale formations.