Gibson Energy (TSE:GEI) Cut to Equal Weight at Wells Fargo & Company

Wells Fargo & Company lowered shares of Gibson Energy (TSE:GEI) from an overweight rating to an equal weight rating in a research report sent to investors on Wednesday morning, Marketbeat reports.

Several other brokerages have also commented on GEI. National Bankshares boosted 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 report on Friday, August 23rd. Scotiabank boosted their price objective on Gibson Energy from C$25.00 to C$26.00 in a research note on Thursday, December 5th. Royal Bank of Canada boosted their price target on Gibson Energy from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Raymond James raised their price objective on Gibson Energy from C$28.50 to C$30.00 in a report on Thursday, December 5th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Gibson Energy from C$27.00 to C$26.00 in a research report on Wednesday, October 2nd. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$27.11.

Gibson Energy Stock Up 0.2 %

Shares of GEI opened at C$24.34 on Wednesday. The firm has a market cap of C$3.96 billion, a P/E ratio of 22.96, a PEG ratio of 1.85 and a beta of 1.25. Gibson Energy has a 12 month low of C$20.03 and a 12 month high of C$26.10. The stock’s 50 day moving average is C$23.61 and its two-hundred day moving average is C$22.84. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 292.01.

Gibson Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st will be paid a $0.41 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.64 annualized dividend and a dividend yield of 6.74%. Gibson Energy’s dividend payout ratio (DPR) is 154.72%.

Insider Activity

In related news, Director Curtis Philippon bought 40,000 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were bought at an average price of C$25.46 per share, with a total value of C$1,018,400.00. Corporate insiders own 0.85% of the company’s stock.

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.