CIBC Issues Pessimistic Forecast for Gibson Energy (TSE:GEI) Stock Price

Gibson Energy (TSE:GEI) had its target price lowered by equities research analysts at CIBC from C$29.00 to C$27.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. CIBC’s price target would indicate a potential upside of 28.57% from the company’s current price.

A number of other analysts have also recently weighed in on GEI. National Bankshares cut shares of Gibson Energy from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from C$29.00 to C$24.00 in a report on Wednesday. Scotiabank raised their price objective on shares of Gibson Energy from C$26.00 to C$27.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. TD Securities set a C$25.00 price objective on shares of Gibson Energy and gave the stock a “hold” rating in a report 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 objective for the stock from C$25.50 to C$28.00 in a report on Thursday, December 5th. Finally, Wells Fargo & Company cut shares of Gibson Energy from an “overweight” rating to an “equal weight” rating in a report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$25.86.

Gibson Energy Stock Down 3.3 %

Shares of GEI traded down C$0.71 during mid-day trading on Thursday, hitting C$21.00. 1,559,843 shares of the company’s stock were exchanged, compared to its average volume of 730,374. The stock’s 50-day moving average is C$24.71 and its 200-day moving average is C$23.42. The company has a market cap of C$3.43 billion, a price-to-earnings ratio of 16.19, a P/E/G ratio of 1.85 and a beta of 1.25. Gibson Energy has a fifty-two week low of C$20.64 and a fifty-two week high of C$26.10. The company has a debt-to-equity ratio of 278.33, a quick ratio of 0.87 and a current ratio of 0.70.

Insider Activity at Gibson Energy

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

About Gibson Energy

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.