Gibson Energy (TSE:GEI) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Gibson Energy Inc. (TSE:GEI)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$23.13 and traded as high as C$24.21. Gibson Energy shares last traded at C$24.19, with a volume of 626,779 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. TD Securities lowered Gibson Energy from a “strong-buy” rating to a “hold” rating and raised their price target for the stock from C$24.00 to C$25.00 in a research report on Tuesday, June 17th. CIBC dropped their target price on shares of Gibson Energy from C$27.00 to C$26.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Finally, Raymond James Financial lifted their price target on shares of Gibson Energy from C$30.00 to C$30.50 and gave the company a “strong-buy” rating in a research note on Tuesday, June 17th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$26.05.

Gibson Energy Price Performance

The firm has a market cap of C$3.95 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 1.85 and a beta of 1.25. The company’s fifty day moving average is C$22.82 and its 200 day moving average is C$23.13. The company has a quick ratio of 0.87, a current ratio of 0.70 and a debt-to-equity ratio of 278.33.

Gibson Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Monday, June 30th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 7.11%. Gibson Energy’s payout ratio is 126.47%.

Insider Activity at Gibson Energy

In other news, Director Curtis Philippon bought 15,000 shares of the company’s stock in a transaction dated Tuesday, May 13th. The shares were bought at an average cost of C$22.26 per share, with a total value of C$333,900.00. Also, Senior Officer David Bruce Gosse bought 2,255 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The stock was purchased at an average price of C$23.50 per share, with a total value of C$52,992.50. Over the last quarter, insiders have purchased 19,460 shares of company stock valued at $436,982. 0.85% of the stock is owned by insiders.

About Gibson Energy

Gibson Energy Inc is an oil infrastructure company that collects, stores, and processes crude oil and refined products. Reportable segments include marketing, which deals with buying, selling, and optimizing products such as crude oil, natural gas liquid, road asphalt, and oil-based mud product; and infrastructure, which makes up a system of oil terminals, rail loading facilities, pipelines, and an oil processing facility.