Gibson Energy Inc. (GEI) Trading Down 3.1% Following Analyst Downgrade
Gibson Energy Inc. (TSE:GEI) shares dropped 3.1% during mid-day trading on Thursday after TD Securities lowered their price target on the stock from C$18.50 to C$17.50. TD Securities currently has a hold rating on the stock. Gibson Energy traded as low as C$17.31 and last traded at C$17.24. Approximately 1,049,731 shares were traded during mid-day trading, an increase of 345% from the average daily volume of 235,897 shares. The stock had previously closed at C$17.79.
Other analysts have also recently issued research reports about the company. BMO Capital Markets lowered their price target on Gibson Energy from C$20.00 to C$18.00 in a report on Wednesday, July 19th. Raymond James Financial, Inc. cut their price objective on Gibson Energy from C$22.00 to C$21.00 and set an “outperform” rating on the stock in a research report on Friday. CIBC lowered their price objective on Gibson Energy from C$19.00 to C$18.00 in a research note on Monday, July 24th. National Bank Financial decreased their price target on Gibson Energy from C$19.00 to C$18.00 and set a “sector perform” rating for the company in a research note on Thursday. Finally, Scotiabank cut their price objective on Gibson Energy from C$19.00 to C$18.00 and set a “sector perform” rating for the company in a report on Friday. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of C$19.50.
In other Gibson Energy news, Director Sean William Duffee sold 5,000 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of C$17.70, for a total value of C$88,500.00. In the last 90 days, insiders sold 27,781 shares of company stock valued at $88,500.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 17th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 8.05%. The ex-dividend date of this dividend is Thursday, December 28th. Gibson Energy’s dividend payout ratio is currently -244.44%.
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Gibson Energy Company Profile
Gibson Energy Inc is a Canada-based integrated service provider to the oil and gas industry with operations across producing regions throughout North America. The Company is engaged in the movement, storage, blending, processing, marketing and distribution of crude oil, condensate, natural gas liquids (NGLs), water, oilfield waste and refined products.
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