Insider Selling: Summit Midstream Corporation (NYSE:SMC) CEO Sells $35,180.00 in Stock

Summit Midstream Corporation (NYSE:SMC) CEO J Heath Deneke sold 1,000 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $35.18, for a total value of $35,180.00. Following the completion of the sale, the chief executive officer now directly owns 265,006 shares of the company’s stock, valued at approximately $9,322,911.08. The trade was a 0.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Monday, December 16th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $35.18, for a total value of $35,180.00.
• On Friday, December 13th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $35.95, for a total transaction of $35,950.00.
• On Wednesday, December 11th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.09, for a total transaction of $37,090.00.
• On Monday, December 9th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The shares were sold at an average price of $37.22, for a total transaction of $37,220.00.
• On Friday, December 6th, J Heath Deneke sold 1,000 shares of Summit Midstream stock. The stock was sold at an average price of $37.78, for a total value of $37,780.00.
• 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 shares were 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 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.

Summit Midstream Price Performance

Shares of Summit Midstream stock opened at $34.94 on Friday. 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 one year low of $15.56 and a one year high of $40.75. The company has a 50-day moving average price of $35.91. The company has a market cap of $372.08 million, a price-to-earnings ratio of -2.73 and a beta of 2.39.

Hedge Funds Weigh In On Summit Midstream

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

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.