Summit Midstream Corporation (SMC)

Market Cap: $380M

About: Summit Midstream Corp is a value-driven corporation focused on developing, owning and operating midstream energy infrastructure assets strategically located in unconventional resource basins, primarily shale formations, in the continental U.S. It currently operates natural gas, crude oil and produced water gathering systems in four unconventional resource basins: the Williston Basin in North Dakota, which includes the Bakken and Three Forks shale formations; the Denver-Julesburg Basin, which includes the Niobrara and Codell shale formations in Colorado and Wyoming; the Fort Worth Basin in Texas, which includes the Barnett Shale formation; and the Piceance Basin in Colorado, which includes the liquids-rich Mesaverde formation as well as the emerging Mancos and Niobrara Shale formations.

Employees: 244

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

266% more call options, than puts

Call options by funds: $249K | Put options by funds: $68K

200% more first-time investments, than exits

New positions opened: 9 | Existing positions closed: 3

25% more capital invested

Capital invested by funds: $97.9M [Q1] → $122M (+$24M) [Q2]

20% more funds holding

Funds holding: 30 [Q1] → 36 (+6) [Q2]

0% more funds holding in top 10

Funds holding in top 10: 1 [Q1] → 1 (+0) [Q2]

0% more repeat investments, than reductions

Existing positions increased: 10 | Existing positions reduced: 10