Summit Midstream Corporation (NYSE:SMC - Get Free Report) CEO J Heath Deneke sold 1,000 shares of the company's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $34.94, for a total value of $34,940.00. Following the transaction, the chief executive officer now directly owns 262,006 shares in the company, valued at $9,154,489.64. This represents a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
J Heath Deneke also recently made the following trade(s):
Shares of NYSE SMC traded up $0.06 during midday trading on Monday, reaching $35.00. 65,474 shares of the stock were exchanged, compared to its average volume of 53,614. 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 company has a market capitalization of $372.72 million, a price-to-earnings ratio of -2.73 and a beta of 2.39. The firm has a 50-day moving average price of $35.91. Summit Midstream Corporation has a twelve month low of $15.56 and a twelve month high of $40.75.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SMC. Valeo Financial Advisors LLC acquired a new position in Summit Midstream in the 3rd quarter worth about $529,000. Fractal Investments LLC acquired a new position in shares of 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 3rd quarter worth approximately $1,311,000. Virtus Fund Advisers LLC purchased a new position in shares of Summit Midstream during the 3rd quarter valued at approximately $3,794,000. Finally, Jane Street Group LLC acquired a new stake in Summit Midstream in the 3rd quarter valued at $227,000. Institutional investors and hedge funds own 42.97% of the company's stock.
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.
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