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

Posted by Jim Brewer on Dec 11th, 2024

Summit Midstream Corporation (NYSE:SMC – Get Free Report) CEO J Heath Deneke sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $37.78, for a total value of $37,780.00. Following the completion of the sale, the chief executive officer now owns 273,006 shares in the company, valued at $10,314,166.68. The trade was a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

On Monday, December 9th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.22, for a total value of $37,220.00.
On Wednesday, December 4th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.43, for a total value of $37,430.00.
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 value 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 value of $37,200.00.
On Wednesday, November 27th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $36.85, for a total value of $36,850.00.
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 value 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 stock was 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 stock opened at $37.47 on Wednesday. The company has a market cap of $399.02 million, a price-to-earnings ratio of -2.93 and a beta of 2.39. Summit Midstream Corporation has a fifty-two week low of $15.56 and a fifty-two week high of $40.75. The stock has a 50 day simple moving average of $35.99. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.20.

Institutional Investors Weigh In On Summit Midstream

A number of large investors have recently made changes to their positions in SMC. Valeo Financial Advisors LLC bought a new stake in shares of Summit Midstream in the 3rd quarter worth approximately $529,000. Fractal Investments LLC bought a new stake in shares of Summit Midstream during the third quarter valued at approximately $1,576,000. Pekin Hardy Strauss Inc. bought a new stake in shares of Summit Midstream during the third quarter valued at approximately $1,311,000. Virtus Fund Advisers LLC bought a new stake in shares of Summit Midstream during the third quarter valued at approximately $3,794,000. Finally, Jane Street Group LLC bought a new stake in shares of Summit Midstream during the third quarter valued at approximately $227,000. 42.97% of the stock is currently owned by 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.