CIBC Cuts Gibson Energy (TSE:GEI) Price Target to C$26.00

Gibson Energy (TSE:GEI) had its price target decreased by CIBC from C$27.00 to C$26.00 in a research note released on Wednesday,BayStreet.CA reports.

Several other equities analysts have also weighed in on the company. TD Securities cut their price target on Gibson Energy from C$24.00 to C$23.00 and set a “hold” rating for the company in a research note on Tuesday. Jefferies Financial Group raised Gibson Energy from a “hold” rating to a “buy” rating and raised their price objective for the company from C$23.00 to C$28.00 in a report on Wednesday, July 23rd. Royal Bank Of Canada upped their target price on Gibson Energy from C$25.00 to C$26.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Scotiabank lowered Gibson Energy from an “outperform” rating to a “hold” rating and decreased their target price for the company from C$27.00 to C$25.00 in a research report on Monday, October 20th. Finally, ATB Capital lifted their price target on shares of Gibson Energy from C$26.00 to C$27.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$26.05.

Gibson Energy Trading Up 0.6%

Shares of Gibson Energy stock opened at C$23.22 on Wednesday. The firm has a 50-day simple moving average of C$25.15 and a two-hundred day simple moving average of C$24.31. The company has a market cap of C$3.80 billion, a P/E ratio of 25.24, a price-to-earnings-growth ratio of 1.85 and a beta of 0.25. Gibson Energy has a fifty-two week low of C$19.63 and a fifty-two week high of C$27.37. 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

In other news, Director Maria Hooper purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average cost of C$25.72 per share, for a total transaction of C$128,600.00. Following the completion of the transaction, the director owned 5,000 shares of the company’s stock, valued at C$128,600. This trade represents a ∞ increase in their ownership of the stock. 0.85% of the stock is owned by corporate insiders.

About Gibson Energy

Gibson Energy Inc is an oil infrastructure company that collects, stores, and processes crude oil and refined products. Reportable segments include marketing, which deals with buying, selling, and optimizing products such as crude oil, natural gas liquid, road asphalt, and oil-based mud product; and infrastructure, which makes up a system of oil terminals, rail loading facilities, pipelines, and an oil processing facility.