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 company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $35.82, for a total value of $35,820.00. Following the transaction, the chief executive officer now directly owns 284,006 shares in the company, valued at approximately $10,173,094.92. The trade was a 0.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• 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 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 shares were sold at an average price of $35.61, for a total value of $35,610.00.

Summit Midstream Trading Up 3.8 %

Summit Midstream stock opened at $37.35 on Monday. 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 firm’s fifty day moving average price is $35.54.

Institutional Trading of Summit Midstream

A number of hedge funds have recently bought and sold shares of SMC. Valeo Financial Advisors LLC purchased a new stake in Summit Midstream in the third quarter worth about $529,000. Fractal Investments LLC purchased a new stake in Summit Midstream in the third quarter worth about $1,576,000. Pekin Hardy Strauss Inc. purchased a new stake in Summit Midstream in the third quarter worth about $1,311,000. Virtus Fund Advisers LLC purchased a new stake in Summit Midstream in the third quarter worth about $3,794,000. Finally, Jane Street Group LLC purchased a new stake in Summit Midstream in the third quarter worth about $227,000. Hedge funds and other institutional investors own 42.97% of the company’s stock.

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.