Gibson Energy (TSE:GEI) Hits New 12-Month High – Here’s Why

Gibson Energy Inc. (TSE:GEI)’s stock price hit a new 52-week high on Monday . The stock traded as high as C$26.06 and last traded at C$25.92, with a volume of 173454 shares changing hands. The stock had previously closed at C$25.87.

Analysts Set New Price Targets

Several research firms have recently issued reports on GEI. Raymond James lifted their price target on Gibson Energy from C$28.50 to C$30.00 in a research report on Thursday, December 5th. Scotiabank increased their price target on shares of Gibson Energy from C$25.00 to C$26.00 in a report on Thursday, December 5th. Royal Bank of Canada boosted their price objective on shares of Gibson Energy from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. BMO Capital Markets upgraded Gibson Energy from a “market perform” rating to an “outperform” rating and increased their target price for the company from C$25.50 to C$28.00 in a research note on Thursday, December 5th. Finally, CIBC boosted their price target on Gibson Energy from C$27.00 to C$29.00 in a research note on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Gibson Energy has an average rating of “Moderate Buy” and a consensus target price of C$26.90.

Gibson Energy Stock Up 0.2 %

The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 292.01. The stock has a market cap of C$4.22 billion, a P/E ratio of 24.45, a PEG ratio of 1.85 and a beta of 1.25. The company’s 50 day moving average price is C$24.32 and its two-hundred day moving average price is C$23.15.

Gibson Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.41 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.64 annualized dividend and a dividend yield of 6.33%. Gibson Energy’s payout ratio is 154.72%.

Insider Buying and Selling

In other Gibson Energy news, Director Curtis Philippon purchased 40,000 shares of Gibson Energy stock in a transaction that occurred on Monday, December 9th. The shares were bought at an average price 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 on Monday, December 30th. The shares were acquired at an average price of C$24.85 per share, with a total value 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.