Why These Energy Stocks Are Losing This Week

7. Summit Midstream Corporation (NYSE:SMC)

Share Price Decline Between Mar. 17 and Mar. 24: 6.48%

Summit Midstream Corporation (NYSE:SMC) focuses on developing, owning, and operating midstream energy infrastructure assets that are strategically located in unconventional resource basins, primarily shale formations, in the continental United States.

Summit Midstream Corporation (NYSE:SMC) reported a net loss of $24.8 million in Q4 2024, and its revenue was also down 16% YoY, primarily due to a decline in gathering services. Moreover, there have also been reports of the company’s CEO, J. Heath Deneke, selling its stock. However, SMC remains committed to strategic expansion and recently announced the $90 million bolt-on acquisition of Moonrise Midstream to further enhance its position in the DJ Basin.