Gibson Energy (TSE:GEI) Cut to “Hold” at Scotiabank

Scotiabank lowered shares of Gibson Energy (TSE:GEI) from an outperform rating to a hold rating in a research report report published on Monday morning, MarketBeat reports. The firm currently has C$25.00 price objective on the stock, down from their prior price objective of C$27.00.

Other analysts have also issued reports about the company. Wells Fargo & Company raised their target price on Gibson Energy from C$23.00 to C$24.00 in a report on Wednesday, July 30th. JPMorgan Chase & Co. raised their target price on Gibson Energy from C$24.00 to C$25.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 20th. Jefferies Financial Group upgraded Gibson Energy from a “hold” rating to a “buy” rating and lifted their target price for the company from C$23.00 to C$28.00 in a report on Wednesday, July 23rd. BMO Capital Markets downgraded Gibson Energy from an “outperform” rating to a “hold” rating and lifted their price target for the stock from C$26.00 to C$27.00 in a report on Monday, September 8th. Finally, ATB Capital boosted their price target on Gibson Energy from C$26.00 to C$27.00 and gave the company an “outperform” rating in a research report 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’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of C$26.23.

Gibson Energy Trading Up 1.8%

Shares of TSE:GEI opened at C$24.05 on Monday. The business’s 50-day moving average is C$25.68 and its 200 day moving average is C$24.07. The company has a debt-to-equity ratio of 278.33, a current ratio of 0.70 and a quick ratio of 0.87. The firm has a market capitalization of C$3.94 billion, a P/E ratio of 24.79, a P/E/G ratio of 1.85 and a beta of 0.27. Gibson Energy has a 1 year low of C$19.63 and a 1 year high of C$27.37.

Gibson Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Tuesday, September 30th were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 7.2%. Gibson Energy’s dividend payout ratio is currently 173.20%.

Insider Transactions at Gibson Energy

In other news, Director Maria Hooper purchased 5,000 shares of the company’s stock in a transaction on Monday, August 18th. The shares were bought at an average price of C$25.72 per share, for a total transaction of C$128,600.00. Following the completion of the purchase, 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.