Summit Midstream Corporation (NYSE:SMC) CEO Sells $37,430.00 in Stock

Posted by Donald Scott on Dec 6th, 2024

Summit Midstream Corporation (NYSE:SMC – Get Free Report) CEO J Heath Deneke sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $37.43, for a total value of $37,430.00. Following the completion of the sale, the chief executive officer now owns 275,006 shares of the company’s stock, valued at $10,293,474.58. This trade represents a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

On Monday, December 2nd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.80, for a total transaction of $37,800.00.
On Friday, November 29th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.20, for a total transaction of $37,200.00.
On Wednesday, November 27th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $36.85, for a total transaction of $36,850.00.
On Monday, November 25th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was 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 value of $35,740.00.
On Wednesday, November 20th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $35.82, for a total value 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 value of $35,540.00.
On Friday, November 15th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $35.61, for a total value of $35,610.00.

Summit Midstream Stock Performance

Shares of SMC traded down $0.14 during midday trading on Friday, hitting $37.81. 96,720 shares of the stock traded hands, compared to its average volume of 51,889. The company’s 50 day simple moving average is $35.88. The company has a market capitalization of $402.68 million, a price-to-earnings ratio of -2.95 and a beta of 2.39. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.33 and a quick ratio of 1.33. Summit Midstream Corporation has a 1-year low of $15.56 and a 1-year high of $40.75.

Institutional Trading of Summit Midstream

Several hedge funds have recently bought and sold shares of SMC. Valeo Financial Advisors LLC acquired a new stake in Summit Midstream in the 3rd quarter valued at approximately $529,000. Fractal Investments LLC acquired a new position in shares of Summit Midstream during the third quarter valued at $1,576,000. Pekin Hardy Strauss Inc. acquired a new position in shares of Summit Midstream during the third quarter valued at $1,311,000. Virtus Fund Advisers LLC bought a new stake in shares of Summit Midstream during the third quarter valued at about $3,794,000. Finally, Jane Street Group LLC acquired a new stake in Summit Midstream in the third quarter worth about $227,000. 42.97% of the stock is currently owned by institutional investors.

About Summit Midstream

(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.