Gibson Energy (TSE:GEI) Downgraded by Wells Fargo & Company to “Equal Weight”

Gibson Energy (TSE:GEI) was downgraded by equities researchers at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a report issued on Wednesday,BayStreet.CA reports.

GEI has been the subject of several other research reports. CIBC raised their target price on shares of Gibson Energy from C$27.00 to C$29.00 in a report on Thursday, December 5th. Royal Bank of Canada boosted their price objective on Gibson Energy from C$27.00 to C$28.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. National Bankshares raised their target price on Gibson Energy from C$25.00 to C$26.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Jefferies Financial Group lifted their price target on Gibson Energy from C$25.00 to C$26.00 in a research report on Thursday, December 5th. Finally, Raymond James upped their price objective on Gibson Energy from C$28.50 to C$30.00 in a research report on Thursday, December 5th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of C$27.11.

Gibson Energy Price Performance

Shares of TSE:GEI opened at C$24.28 on Wednesday. Gibson Energy has a twelve month low of C$20.03 and a twelve month high of C$26.10. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 292.01. The company has a market cap of C$3.95 billion, a PE ratio of 22.91, a price-to-earnings-growth ratio of 1.85 and a beta of 1.25. The company’s 50 day moving average is C$23.61 and its 200 day moving average is C$22.84.

Insider Activity

In related news, Director Curtis Philippon purchased 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. 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.