Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Targa Resources Corp shares valued at $23,329,500 were sold by Perkins Joe Bob on Sep 24 ’24. At $155.53 per share, Perkins Joe Bob sold 150,000 shares. The insider’s holdings dropped to 110,470 shares worth approximately $18.44 million following the completion of this transaction.
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Also, Muraro Robert sold 2,500 shares, netting a total of over 365,504 in proceeds. Following the sale of shares at $146.20 each, the insider now holds 174,451 shares.
Before that, Davis Waters S IV had sold 3,597 shares from its account. In a trade valued at $512,308, the Director traded Targa Resources Corp shares for $142.43 each. Upon closing the transaction, the insider’s holdings decreased to 3,597 shares, worth approximately $0.98 million.
As of March 02, 2023, Scotiabank has initiated its “Sector outperform” rating for TRGP. Earlier on December 09, 2022, Citigroup initiated its rating. Their recommendation was “a Buy” for TRGP stock.
Analyzing TRGP Stock Performance
During the last five days, there has been a drop of approximately -0.96%. Over the course of the year, Targa Resources Corp shares have jumped approximately 92.20%. Shares of the company reached a 52-week high of $169.92 on 10/25/24 and a 52-week low of $81.03 on 01/18/24. A 50-day SMA is recorded $154.72, while a 200-day SMA reached $124.70. Nevertheless, trading volume fell to 1.26 million shares from 1.44 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 165.65, which, if violated, would cause prices to drop to 164.35. In the upper region, resistance lies at 168.27. The next price resistance is at 169.59. RSI (Relative Strength Index) is 63.65 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.30, which suggests the price will increase in the coming days. Percent R is at 32.49%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
