Scotiabank Issues Pessimistic Forecast for Gibson Energy (TSE:GEI) Stock Price

Gibson Energy (TSE:GEI) had its price target reduced by investment analysts at Scotiabank from C$27.00 to C$26.00 in a research report issued on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 22.24% from the stock’s previous close.

Several other brokerages have also weighed in on GEI. CIBC cut their price objective on shares of Gibson Energy from C$29.00 to C$27.00 and set an “outperform” rating on the stock in a research report on Thursday. Jefferies Financial Group dropped their price target on shares of Gibson Energy from C$26.00 to C$23.00 and set a “hold” rating on the stock in a research note on Thursday. ATB Capital reduced their price objective on shares of Gibson Energy from C$28.00 to C$26.00 and set an “outperform” rating for the company in a research note on Thursday. BMO Capital Markets raised shares of Gibson Energy from a “market perform” rating to an “outperform” rating and increased their target price for the stock from C$25.50 to C$28.00 in a research report on Thursday, December 5th. Finally, TD Securities cut their target price on Gibson Energy from C$25.00 to C$24.00 and set a “hold” rating on the stock in a report on Thursday. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$25.86.

Gibson Energy Stock Performance

Shares of TSE GEI opened at C$21.27 on Thursday. The company has a debt-to-equity ratio of 278.33, a current ratio of 0.70 and a quick ratio of 0.87. Gibson Energy has a one year low of C$20.83 and a one year high of C$26.10. The business’s 50-day moving average price is C$24.57 and its two-hundred day moving average price is C$23.39. The company has a market capitalization of C$3.47 billion, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 1.85 and a beta of 1.25.

Insider Buying and Selling at Gibson Energy

In related news, Director Curtis Philippon acquired 25,000 shares of the stock in a transaction dated Friday, February 21st. The shares were acquired at an average price of C$21.20 per share, for a total transaction of C$530,000.00. Also, Senior Officer Riley Hicks bought 8,900 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were bought at an average price of C$21.10 per share, with a total value of C$187,790.00. Insiders bought 75,910 shares of company stock worth $1,786,139 over the last ninety days. Company insiders own 0.85% of the company’s stock.

About Gibson Energy

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.