Summit Midstream Corporation (NYSE:SMC - Get Free Report) CEO J Heath Deneke sold 1,000 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at $9,322,911.08. This trade represents a 0.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
J Heath Deneke also recently made the following trade(s):
SMC traded down $0.69 during midday trading on Wednesday, reaching $34.81. 81,241 shares of the company's stock were exchanged, compared to its average volume of 53,270. Summit Midstream Corporation has a one year low of $15.56 and a one year high of $40.75. The company has a market cap of $370.69 million, a price-to-earnings ratio of -2.72 and a beta of 2.39. The company's 50-day moving average is $35.96. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.20.
A number of large investors have recently bought and sold shares of the stock. Barclays PLC bought a new stake in Summit Midstream during the third quarter worth about $194,000. Jane Street Group LLC bought a new stake in Summit Midstream during the 3rd quarter worth approximately $227,000. Valeo Financial Advisors LLC bought a new stake in Summit Midstream during the 3rd quarter worth approximately $529,000. Pekin Hardy Strauss Inc. acquired a new stake in Summit Midstream during the 3rd quarter valued at $1,311,000. Finally, Fractal Investments LLC bought a new position in Summit Midstream in the 3rd quarter valued at $1,576,000. 42.97% of the stock is currently owned by institutional investors.
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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