Raymond James Lowers Gibson Energy (TSE:GEI) to Market Perform

Raymond James downgraded shares of Gibson Energy (TSE:GEIGet Rating) from an outperform rating to a market perform rating in a research report sent to investors on Wednesday morning, BayStreet.CA reports. Raymond James currently has C$26.50 target price on the stock, up from their previous target price of C$25.00. Raymond James also issued estimates for Gibson Energy’s Q3 2022 earnings at $0.38 EPS and Q4 2022 earnings at $0.41 EPS.

A number of other equities research analysts have also issued reports on GEI. Wells Fargo & Company lifted their target price on Gibson Energy from C$23.00 to C$25.00 and gave the company a neutral rating in a research report on Friday, May 6th. CSFB dropped their target price on Gibson Energy from C$29.00 to C$25.00 in a research report on Friday, July 22nd. CIBC lifted their target price on Gibson Energy from C$25.00 to C$26.00 in a research report on Thursday, April 21st. Credit Suisse Group dropped their target price on Gibson Energy to C$25.00 and set a hold rating on the stock in a research report on Friday, July 22nd. Finally, TD Securities boosted their price target on Gibson Energy from C$25.00 to C$26.00 and gave the stock a hold rating in a research report on Wednesday, May 4th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Gibson Energy presently has a consensus rating of Hold and an average target price of C$25.25.

Gibson Energy Trading Down 2.1 %

TSE GEI opened at C$24.23 on Wednesday. The firm has a market cap of C$3.55 billion and a P/E ratio of 22.03. The company has a debt-to-equity ratio of 242.84, a current ratio of 1.03 and a quick ratio of 0.76. The stock’s 50-day moving average is C$25.37 and its 200-day moving average is C$25.00. Gibson Energy has a one year low of C$21.43 and a one year high of C$27.75.

Gibson Energy (TSE:GEIGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The company reported C$0.24 EPS for the quarter, missing analysts’ consensus estimates of C$0.28 by C($0.04). The firm had revenue of C$3.20 billion during the quarter. Sell-side analysts anticipate that Gibson Energy will post 1.3200001 earnings per share for the current fiscal year.

Insider Transactions at Gibson Energy

In related news, Director Marshall L. Mcrae sold 2,570 shares of the business’s stock in a transaction on Monday, June 27th. The stock was sold at an average price of C$24.31, for a total value of C$62,476.70. Following the completion of the sale, the director now directly owns 3,283 shares in the company, valued at approximately C$79,809.73. In other news, Director Steven R. Spaulding sold 100,000 shares of the company’s stock in a transaction on Friday, May 20th. The stock was sold at an average price of C$25.69, for a total transaction of C$2,569,000.00. Following the completion of the sale, the director now directly owns 353,425 shares in the company, valued at approximately C$9,079,488.25. Also, Director Marshall L. Mcrae sold 2,570 shares of the business’s stock in a transaction on Monday, June 27th. The stock was sold at an average price of C$24.31, for a total value of C$62,476.70. Following the transaction, the director now directly owns 3,283 shares of the company’s stock, valued at approximately C$79,809.73. In the last three months, insiders sold 343,996 shares of company stock worth $8,930,281.

Gibson Energy Company Profile

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Gibson Energy Inc, a liquids infrastructure company, engages in the gathering, storage, optimization, processing, and marketing of liquids and refined products in North America. It operates through two segments, Infrastructure and Marketing. The Infrastructure segment operates a network of infrastructure assets that include oil terminals, rail loading and unloading facilities, gathering pipelines, and a crude oil processing facility.

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Analyst Recommendations for Gibson Energy (TSE:GEI)

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