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

Posted by Casey Walker on Nov 28th, 2024

Summit Midstream Corporation (NYSE:SMC – Get Free Report) CEO J Heath Deneke sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $36.85, for a total transaction of $36,850.00. Following the completion of the transaction, the chief executive officer now owns 279,006 shares in the company, valued at $10,281,371.10. The trade was a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

On Monday, November 25th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.16, for a total transaction of $37,160.00.
On Friday, November 22nd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.74, for a total transaction of $35,740.00.
On Wednesday, November 20th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.82, for a total transaction of $35,820.00.
On Monday, November 18th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.54, for a total transaction of $35,540.00.
On Friday, November 15th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.61, for a total transaction of $35,610.00.

Summit Midstream Trading Up 0.9 %

SMC traded up $0.33 during trading on Wednesday, hitting $37.46. 30,613 shares of the company traded hands, compared to its average volume of 51,056. The company has a market cap of $398.91 million, a P/E ratio of -2.92 and a beta of 2.35. The stock has a 50-day moving average price of $35.58. Summit Midstream Corporation has a 1 year low of $15.56 and a 1 year high of $40.75. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.33 and a current ratio of 1.33.

Hedge Funds Weigh In On Summit Midstream

Institutional investors have recently bought and sold shares of the stock. Barclays PLC purchased a new position in Summit Midstream during the third quarter valued at $194,000. Jane Street Group LLC purchased a new position in shares of Summit Midstream during the 3rd quarter worth about $227,000. Valeo Financial Advisors LLC purchased a new position in shares of Summit Midstream during the 3rd quarter worth about $529,000. Pekin Hardy Strauss Inc. bought a new stake in Summit Midstream during the 3rd quarter valued at about $1,311,000. Finally, Fractal Investments LLC bought a new stake in Summit Midstream during the 3rd quarter valued at about $1,576,000. 42.97% of the stock is owned by hedge funds and other institutional investors.

Summit Midstream Company Profile

(Get Free Report)

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.