Targa Resources Corp. ( TRGP ) saw a big move last session, as the company's shares fell by over 8% on Friday. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the recent trend for TRGP, as the stock is now up 19.6% in the past one-month time frame.
This slump shouldn't be too much of a surprise to investors, as Targa Resources has seen 2 negative revisions in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
TRGP currently has a Zacks Rank #3 (Hold) while its Earnings ESP
Some better-ranked stocks in the oils-energy sector include Antero Resources Corporation
), Alon USA Partners, LP
) and Western Gas Equity Partners, LP
). While Antero Resources and Alon USA carry a Zacks Rank #1 (Strong Buy), Western Gas Equity holds a Zacks Rank #2 (Buy).
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportTARGA RESOURCES (TRGP): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research