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 Friday, January 31st. The shares were sold at an average price of $41.49, for a total transaction of $41,490.00. Following the sale, the chief executive officer now directly owns 260,326 shares of the company’s stock, valued at approximately $10,800,925.74. This represents a 0.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, February 3rd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $41.04, for a total value of $41,040.00.
• On Wednesday, January 29th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $40.88, for a total value of $40,880.00.
• On Monday, January 27th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $40.80, for a total value of $40,800.00.
• On Thursday, January 23rd, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $42.86, for a total transaction of $42,860.00.
• On Tuesday, January 21st, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $42.06, for a total transaction of $42,060.00.
• On Friday, January 17th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $40.11, for a total transaction of $40,110.00.
• On Wednesday, January 15th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.98, for a total transaction of $37,980.00.
• 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 shares were sold at an average price of $37.60, for a total value of $37,600.00.
• On Wednesday, January 8th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.50, for a total value of $37,500.00.

Summit Midstream Stock Performance

Shares of NYSE SMC opened at $42.67 on Wednesday. The company’s 50-day moving average is $38.05. Summit Midstream Corporation has a fifty-two week low of $15.56 and a fifty-two week high of $43.99. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.20.

Summit Midstream (NYSE:SMC) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($15.28) EPS for the quarter. The company had revenue of $102.42 million for the quarter. Summit Midstream had a positive return on equity of 0.71% and a negative net margin of 23.01%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Barclays PLC acquired a new stake in shares of Summit Midstream during the third quarter worth $194,000. Fractal Investments LLC acquired a new stake in Summit Midstream during the 3rd quarter worth about $1,576,000. Virtus Fund Advisers LLC purchased a new stake in Summit Midstream during the third quarter valued at about $3,794,000. Jane Street Group LLC acquired a new position in shares of Summit Midstream in the third quarter worth about $227,000. Finally, Valeo Financial Advisors LLC purchased a new position in shares of Summit Midstream in the third quarter worth approximately $529,000. 42.97% of the stock is 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.