TD Securities Cuts Gibson Energy (TSE:GEI) Price Target to C$23.00

Gibson Energy (TSE:GEI) had its price objective lowered by TD Securities from C$24.00 to C$23.00 in a report published on Tuesday morning,BayStreet.CA reports. The brokerage currently has a hold rating on the stock.

A number of other brokerages have also issued reports on GEI. Scotiabank lowered Gibson Energy from an “outperform” rating to a “hold” rating and reduced their target price for the stock from C$27.00 to C$25.00 in a research note on Monday, October 20th. JPMorgan Chase & Co. increased their price objective on Gibson Energy from C$24.00 to C$25.00 and gave the company an “underweight” rating in a report on Wednesday, August 20th. BMO Capital Markets downgraded Gibson Energy from an “outperform” rating to a “hold” rating and lifted their target price for the stock from C$26.00 to C$27.00 in a report on Monday, September 8th. Wells Fargo & Company increased their price target on shares of Gibson Energy from C$23.00 to C$24.00 in a report on Wednesday, July 30th. Finally, Royal Bank Of Canada raised their price target on shares of Gibson Energy from C$25.00 to C$26.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Gibson Energy presently has an average rating of “Hold” and an average price target of C$26.05.

Gibson Energy Price Performance

TSE GEI opened at C$23.08 on Tuesday. The firm’s fifty day simple moving average is C$25.21 and its two-hundred day simple moving average is C$24.30. The firm has a market capitalization of C$3.78 billion, a P/E ratio of 23.79, a P/E/G ratio of 1.85 and a beta of 0.25. The company has a current ratio of 0.70, a quick ratio of 0.87 and a debt-to-equity ratio of 278.33. Gibson Energy has a 12-month low of C$19.63 and a 12-month high of C$27.37.

Insiders Place Their Bets

In related news, Director Maria Hooper purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were purchased at an average cost of C$25.72 per share, with a total value of C$128,600.00. Following the purchase, the director owned 5,000 shares of the company’s stock, valued at C$128,600. This represents a ∞ increase in their position. Corporate insiders own 0.85% of the company’s stock.

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.