Wells Fargo & Company downgraded shares of Gibson Energy (TSE:GEI – Free Report) from an overweight rating to an equal weight rating in a research note published on Wednesday morning,BayStreet.CA reports.
GEI has been the topic of a number of other reports. Scotiabank raised their price objective on Gibson Energy from C$25.00 to C$26.00 in a report on Thursday, December 5th. BMO Capital Markets raised Gibson Energy from a “market perform” rating to an “outperform” rating and increased their price objective for the company from C$25.50 to C$28.00 in a research report on Thursday, December 5th. Royal Bank of Canada raised their price target on Gibson Energy from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Jefferies Financial Group boosted their price objective on Gibson Energy from C$25.00 to C$26.00 in a research report on Thursday, December 5th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Gibson Energy from C$27.00 to C$26.00 in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of C$27.11.
Read Our Latest Research Report on Gibson Energy
Gibson Energy Stock Down 0.7 %
Gibson Energy Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Tuesday, December 31st will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 6.79%. The ex-dividend date of this dividend is Tuesday, December 31st. Gibson Energy’s dividend payout ratio (DPR) is presently 154.72%.
Insider Buying and Selling
In related news, Director Curtis Philippon bought 40,000 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was purchased at an average cost of C$25.46 per share, for a total transaction of C$1,018,400.00. 0.85% of the stock is currently owned by company insiders.
Gibson Energy Company Profile
Gibson Energy Inc, together with its subsidiaries, engages in the gathering, storage, optimization, processing, and marketing of liquids and refined products in Canada and the United States. It operates through Infrastructure and Marketing segments. The Infrastructure segment operates a network of liquid infrastructure assets that include oil terminals, rail loading and unloading facilities, gathering pipelines, a crude oil processing facility, and other terminals.
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