Saturday, June 25, 2022

Director WILLIAMSON JOHN B III acquired 1,000 shares of RGC Resources Inc. [RGCO]

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. RGC Resources Inc. shares valued at $18,250 were purchased by WILLIAMSON JOHN B III on Jun 21. At $18.25 per share, WILLIAMSON JOHN B III acquired 1,000 shares. The insider’s holdings grew to 154,705 shares worth approximately $2.8 million following the completion of this transaction.

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Also, Field Jason A. purchased 650 shares, netting a total of over 12,025 in proceeds. Following the buying of shares at $18.50 each, the insider now holds 675 shares.

Before that, JOHNSTON ROBERT B had added 7,500 shares to its account. In a trade valued at $135,750, the Director bought RGC Resources Inc. shares for $18.10 each. Upon closing the transaction, the insider’s holdings increased to 7,500 shares, worth approximately $1.08 million.

As published in a research note from Janney on May 10, 2019, RGC Resources Inc. [RGCO] has been rated up from a Neutral to a Buy. Analysts at Seaport Global Securities started covering the stock with ‘”a Neutral”‘ outlook in a report released in mid April. As of February 06, 2018, Janney has increased its “Neutral” rating to a “Buy” for RGCO. Earlier on December 20, 2017, Janney initiated its rating. Their recommendation was “a Neutral” for RGCO stock.

Analyzing RGCO’s Price Performance

On Wednesday, RGC Resources Inc. [NASDAQ: RGCO] rose 0.28% to $18.07. The stock’s lowest price that day was $18.07, but it reached a high of $18.31 in the same session. During the last five days, there has been a drop of approximately -8.78%. Over the course of the year, RGC Resources Inc. shares have dropped approximately -21.47%. Shares of the company reached a 52-week high of $23.84 on 01/03/22 and a 52-week low of $18.01 on 06/21/22. A 50-day SMA is recorded $20.40, while a 200-day SMA reached $21.78. Nevertheless, trading volume fell to 17444.0 shares from 42400.0 shares the previous day.

Support And Resistance Levels for RGC Resources Inc. (RGCO)

According to the 24-hour chart, there is a support level at 17.99, which, if violated, would cause prices to drop to 17.91. In the upper region, resistance lies at 18.23. The next price resistance is at 18.39. RSI (Relative Strength Index) is 23.59 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.82, which suggests the price will decrease in the coming days. Percent R is at 97.99%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Which companies own the most shares of RGC Resources Inc. (RGCO)?

According to T. Rowe Price Associates, Inc. filings, the company currently owns 805,036 shares, which is about 8.22% of the total RGCO shares outstanding. The investor’s shares have appreciated by 200,000 from its previous 13-F filing of 605036.0 shares. With the completion of the sale, The Vanguard Group, Inc.’s stake is now worth $8,218,680. Russell Investment Management LLC acquire a 3.51% interest valued at $6.39 million while Columbia Management Investment Ad purchased a 18,304 stake. A total of -6,157 shares of RGC Resources Inc. were bought by DePrince, Race & Zollo, Inc. during the quarter, and -401 were sold by Cutter & Co. Brokerage, Inc. In its current portfolio, Dimensional Fund Advisors LP holds 112,773 shares valued at $2.3 million.

In terms of RGC Resources Inc. share price expectations, FactSet research, analysts set an average price target of $29.00 in the next 12 months, up nearly 60.93% from the previous closing price of $18.02. Analysts anticipate RGC Resources Inc. stock to reach $29.00 by 2022, with the lowest price target being $29.00. In spite of this, 1 analysts ranked RGC Resources Inc. stock as a Buy at the end of 2022.

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