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. Targa Resources Corp shares valued at $1,009,600 were sold by Boushka Julie H. on Mar 05 ’24. At $100.96 per share, Boushka Julie H. sold 10,000 shares. The insider’s holdings dropped to 59,919 shares worth approximately $6.7 million following the completion of this transaction.
Also, Pryor D. Scott sold 10,000 shares, netting a total of over 970,007 in proceeds. Following the sale of shares at $97.00 each, the insider now holds 156,098 shares.
Before that, Muraro Robert had sold 10,000 shares from its account. In a trade valued at $973,080, the Chief Commercial Officer traded Targa Resources Corp shares for $97.31 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $24.53 million.
Analysts at Scotiabank started covering the stock with ‘”a Sector outperform”‘ outlook in a report released in early March. As of December 09, 2022, Citigroup has initiated its “Buy” rating for TRGP.
Analyzing TRGP Stock Performance
During the last five days, there has been a drop of approximately -3.08%. Over the course of the year, Targa Resources Corp shares have jumped approximately 28.68%. Shares of the company reached a 52-week high of $117.61 on 04/12/24 and a 52-week low of $81.03 on 01/18/24. A 50-day SMA is recorded $104.66, while a 200-day SMA reached $89.53. Nevertheless, trading volume fell to 1.76 million shares from 2.18 million shares the previous day.
Support And Resistance Levels for Targa Resources Corp (TRGP)
According to the 24-hour chart, there is a support level at 111.07, which, if violated, would cause prices to drop to 110.37. In the upper region, resistance lies at 112.68. The next price resistance is at 113.59. RSI (Relative Strength Index) is 54.56 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.55, which suggests the price will decrease in the coming days. Percent R is at 90.81%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
