Scotiabank Lowers Gibson Energy (TSE:GEI) Price Target to C$26.00

Gibson Energy (TSE:GEI) had its price objective lowered by research analysts at Scotiabank from C$27.00 to C$26.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s price objective would indicate a potential upside of 23.81% from the company’s previous close.

GEI has been the topic of several other research reports. TD Securities dropped their price objective on Gibson Energy from C$25.00 to C$24.00 and set a “hold” rating on the stock in a report on Thursday. National Bankshares lowered Gibson Energy from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from C$29.00 to C$24.00 in a report on Wednesday. Jefferies Financial Group dropped their price objective on Gibson Energy from C$26.00 to C$23.00 and set a “hold” rating on the stock in a report on Thursday. CIBC dropped their price objective on Gibson Energy from C$29.00 to C$27.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Wells Fargo & Company downgraded shares of Gibson Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$25.86.

Gibson Energy Stock Performance

Shares of GEI stock traded down C$0.71 during mid-day trading on Thursday, hitting C$21.00. 1,559,843 shares of the stock were exchanged, compared to its average volume of 730,374. The stock’s fifty day simple moving average is C$24.71 and its two-hundred day simple moving average is C$23.42. The stock has a market capitalization of C$3.43 billion, a price-to-earnings ratio of 16.19, a P/E/G ratio of 1.85 and a beta of 1.25. Gibson Energy has a 12-month low of C$20.64 and a 12-month high of C$26.10. The company has a debt-to-equity ratio of 278.33, a quick ratio of 0.87 and a current ratio of 0.70.

Insider Activity at Gibson Energy

In other news, Director Curtis Philippon acquired 40,000 shares of Gibson Energy stock in a transaction that occurred on Monday, December 9th. The stock was purchased at an average price of C$25.46 per share, for a total transaction of C$1,018,400.00. Also, Senior Officer Kelly Holtby acquired 2,010 shares of Gibson Energy stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average price of C$24.85 per share, with a total value of C$49,948.50. 0.85% of the stock is owned by 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.