Scotiabank Forecasts Strong Price Appreciation for Gibson Energy (TSE:GEI) Stock

Gibson Energy (TSE:GEI) had its price objective lifted by investment analysts at Scotiabank from C$26.00 to C$27.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 12.55% from the company’s previous close.

Other analysts have also issued reports about the company. Wells Fargo & Company lowered Gibson Energy from an “overweight” rating to an “equal weight” rating in a report on Wednesday, December 18th. TD Securities set a C$25.00 target price on shares of Gibson Energy and gave the stock a “hold” rating in a research note on Wednesday, January 15th. BMO Capital Markets raised shares of Gibson Energy from a “market perform” rating to an “outperform” rating and raised their price target for the company from C$25.50 to C$28.00 in a research report on Thursday, December 5th. CIBC increased their price objective on shares of Gibson Energy from C$27.00 to C$29.00 in a research note on Thursday, December 5th. Finally, Raymond James boosted their target price on Gibson Energy from C$28.50 to C$30.00 in a research note on Thursday, December 5th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$27.00.

Gibson Energy Stock Up 0.5 %

TSE:GEI traded up C$0.12 during trading hours on Thursday, reaching C$23.99. The company had a trading volume of 172,077 shares, compared to its average volume of 636,069. The business’s 50-day simple moving average is C$24.88 and its two-hundred day simple moving average is C$23.41. Gibson Energy has a twelve month low of C$20.42 and a twelve month high of C$26.10. The firm has a market cap of C$3.91 billion, a price-to-earnings ratio of 18.50, a P/E/G ratio of 1.85 and a beta of 1.25. The company has a quick ratio of 0.87, a current ratio of 0.70 and a debt-to-equity ratio of 278.33.

Insider Buying and Selling

In other Gibson Energy news, Senior Officer Kelly Holtby bought 2,010 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were acquired at an average cost of C$24.85 per share, for a total transaction of C$49,948.50. Also, Director Curtis Philippon bought 40,000 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was bought at an average cost of C$25.46 per share, for a total transaction of C$1,018,400.00. 0.85% of the stock is currently owned by insiders.

Gibson Energy Company Profile

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.