Targa Resources June 15th Short Interest Update

The short interest in Targa Resources (NYSE:TRGP) has declined from 10,148,908 on May 31,2016 to 9,284,502 on June 15,2016. The change was measured at 864,406 shares or 8.5%. The leftover shorts were 6% of the floated shares. The days to cover are 4, given the average daily volume of 2,607,066 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Targa Resources (NYSE:TRGP): The stock opened at $41.00 on Friday but the bulls could not build on the opening and the stock topped out at $42.11 for the day. The stock traded down to $40.35 during the day, due to lack of any buying support eventually closed down at $41.09 with a loss of -4.31% for the day. The stock had closed at $42.94 on the previous day. The total traded volume was 3,532,573 shares.

The company shares have dropped -53.68% from its 1 Year high price. On Jul 14, 2015, the shares registered one year high at $92.13 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $42.18 and the 200 Day Moving Average price is recorded at $30.94.

Targa Resources (NYSE:TRGP) has tumbled 0.94% during the past week and has dropped 3.82% in the last 4 week period. The company has outperformed the S&P 500 by 0.7% in the past week but underperformed the index by 0.91% in the last 4 weeks.

Targa Resources Corp. (Traga), through its general and limited partner interests in Targa Resources Partners LP (the Partnership), is a provider of midstream natural gas and natural gas liquid (NGL) services in the United States. The Partnership is engaged in the business of gathering, compressing, treating, processing and selling natural gas and storing, fractionating, treating, transporting, terminaling and selling NGLs, NGL products, and gathering, storing and terminaling crude oil and refined petroleum products. The Company operates in two divisions Gathering and Processing and Logistics and Marketing. Gathering and Processing includes Field Gathering and Processing and Coastal Gathering and Processing. Logistics and Marketing includes Logistics Assets and Marketing and Distribution.

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