Gibson Energy (TSE:GEI) Sets New 12-Month High Following Analyst Upgrade

Gibson Energy Inc. (TSE:GEI)’s share price reached a new 52-week high on Wednesday after BMO Capital Markets raised their price target on the stock from C$28.00 to C$29.00. The stock traded as high as C$26.08 and last traded at C$25.81, with a volume of 213946 shares trading hands. The stock had previously closed at C$25.13.

A number of other research analysts also recently commented on GEI. Canaccord Genuity boosted their target price on Gibson Energy from C$26.00 to C$28.00 in a research note on Wednesday, November 6th. CIBC upgraded Gibson Energy from a “neutral” rating to an “outperform” rating and lifted their price target for the company from C$25.00 to C$26.00 in a report on Tuesday, November 5th. National Bank Financial boosted their price target on Gibson Energy from C$28.00 to C$29.00 and gave the company an “outperform” rating in a research note on Wednesday. TD Securities increased their price objective on Gibson Energy from C$24.00 to C$25.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Finally, CSFB reaffirmed a “neutral” rating on shares of Gibson Energy in a research report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of C$26.77.

The business has a 50-day simple moving average of C$24.23 and a two-hundred day simple moving average of C$23.38. The company has a market cap of $3.73 billion and a price-to-earnings ratio of 23.50. The company has a quick ratio of 0.90, a current ratio of 1.07 and a debt-to-equity ratio of 209.24.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date of this dividend is Monday, December 30th. Gibson Energy’s dividend payout ratio is 118.39%.

About Gibson Energy (TSE:GEI)

Gibson Energy Inc engages in the gathering, storage, optimization, processing, and marketing of crude oil and refined products in North America. It operates through Infrastructure and Wholesale segments. The Infrastructure segment operates a network of infrastructure assets that include oil terminals, rail loading and unloading facilities, injection stations, gathering pipelines, and a crude oil processing facility, as well as procession, recovery, and disposal terminals.

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