GuruFocus - On August 14, 2024, Robert Muraro, the Chief Commercial Officer of Targa Resources Corp (NYSE:TRGP), executed a sale of 10,000 shares of the company. The transaction was filed with the SEC and can be viewed in detail through the SEC Filing. Following this transaction, the insider now owns 176,951 shares of Targa Resources Corp.
Targa Resources Corp is engaged in providing midstream services and logistics for natural gas, crude oil, and natural gas liquids. The company operates through gathering and processing segments, primarily in the regions of North Dakota, Texas, New Mexico, and Louisiana.
Over the past year, Robert Muraro has sold a total of 67,500 shares and has not purchased any shares. This recent sale is part of a broader trend observed within the company, where there have been 29 insider sells and no insider buys over the past year.
Shares of Targa Resources Corp were trading at $140.04 on the day of the transaction. The company has a market cap of approximately $31.29 billion. The price-earnings ratio stands at 30.07, which is above the industry median of 10.94.
The stock is currently considered Significantly Overvalued with a price-to-GF Value ratio of 1.86, based on a GF Value of $75.42. The GF Value is calculated considering historical trading multiples, an adjustment factor based on past performance, and future business performance estimates.
This insider sale might interest investors tracking insider behaviors as an indicator of the companys future performance and valuation alignment.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
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