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

Wells Fargo & Company cut shares of Gibson Energy (TSE:GEI) from an overweight rating to an equal weight rating in a research note published on Wednesday morning, MarketBeat Ratings reports.

Other research analysts have also recently issued research reports about the stock. CIBC lifted their price objective on shares of Gibson Energy from C$27.00 to C$29.00 in a report on Thursday, December 5th. BMO Capital Markets raised shares of Gibson Energy from a “market perform” rating to an “outperform” rating and raised their price target for the company from C$25.50 to C$28.00 in a research report on Thursday, December 5th. Raymond James upped their price objective on Gibson Energy from C$28.50 to C$30.00 in a research report on Thursday, December 5th. Royal Bank of Canada lifted their target price on Gibson Energy from C$27.00 to C$28.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. cut their price target on Gibson Energy from C$27.00 to C$26.00 in a report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of C$27.11.

Gibson Energy Stock Performance

Shares of Gibson Energy stock opened at C$24.34 on Wednesday. The company has a debt-to-equity ratio of 292.01, a current ratio of 1.18 and a quick ratio of 0.87. The stock has a market capitalization of C$3.96 billion, a price-to-earnings ratio of 22.96, a price-to-earnings-growth ratio of 1.85 and a beta of 1.25. The business has a 50-day moving average of C$23.61 and a 200 day moving average of C$22.84. Gibson Energy has a 12 month low of C$20.03 and a 12 month high of C$26.10.

Gibson Energy Announces Dividend

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

Insider Activity

In related news, Director Curtis Philippon acquired 40,000 shares of Gibson Energy stock in a transaction dated Monday, December 9th. The stock was acquired at an average price of C$25.46 per share, for a total transaction of C$1,018,400.00. Company insiders own 0.85% of the company’s stock.

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.