Gibson Energy (TSE:GEI) Stock Rating Cut to "Neutral" at Canadian Imperial Bank of Commerce

Key Points

• Canadian Imperial Bank of Commerce downgraded Gibson Energy to “neutral” from “outperformer” and set a C$34 price target, implying approximately 3% upside from the prior close.
• Analyst sentiment remains broadly positive: Gibson has an average “Moderate Buy” rating and a consensus price target of C$32.90, with several firms recently raising their targets.
• Gibson shares traded at C$33.01, near their 12-month high of C$33.67. The company reported quarterly earnings of C$0.48 per share on C$4.83 billion in revenue.

Gibson Energy (TSE:GEI - Get Free Report) was downgraded by investment analysts at Canadian Imperial Bank of Commerce from an "outperformer" rating to a "neutral" rating in a research note issued on Thursday, BayStreet reports. They presently have a C$34.00 price target on the stock. Canadian Imperial Bank of Commerce's price target indicates a potential upside of 3.00% from the company's previous close.

Several other analysts have also commented on GEI. BMO Capital Markets increased their target price on shares of Gibson Energy from C$29.00 to C$32.00 in a research note on Tuesday, July 28th. ATB Cormark Capital Markets lifted their price target on shares of Gibson Energy from C$34.00 to C$35.00 in a research report on Wednesday, September 30th. Royal Bank Of Canada upped their price target on Gibson Energy from C$30.00 to C$33.00 and gave the company an "outperform" rating in a report on Wednesday, July 29th. JPMorgan Chase & Co. increased their price objective on Gibson Energy from C$29.00 to C$30.00 in a research report on Thursday, July 30th. Finally, Scotiabank raised their price objective on Gibson Energy from C$29.00 to C$31.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$32.90.

Gibson Energy Price Performance

Gibson Energy stock traded down C$0.58 during midday trading on Thursday, hitting C$33.01. The company's stock had a trading volume of 1,168,776 shares, compared to its average volume of 746,419. Gibson Energy has a 12 month low of C$22.09 and a 12 month high of C$33.67. The company has a quick ratio of 0.87, a current ratio of 1.07 and a debt-to-equity ratio of 294.95. The company has a market capitalization of C$5.70 billion, a PE ratio of 33.01, a price-to-earnings-growth ratio of 1.85 and a beta of -0.03. The stock's 50-day moving average price is C$31.62 and its 200-day moving average price is C$30.24.

Gibson Energy (TSE:GEI - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The company reported C$0.48 earnings per share for the quarter. The company had revenue of C$4.83 billion during the quarter. Gibson Energy had a net margin of 1.32% and a return on equity of 18.23%.

Gibson Energy Company Profile

Gibson is a leading liquids Infrastructure company with its principal businesses consisting of the storage, optimization, processing, and gathering of liquids and refined products, as well as waterborne vessel loading. Headquartered in Calgary, Alberta, the Company's operations are located across North America, with core terminal assets in Hardisty and Edmonton, Alberta, Ingleside and Wink, Texas, and a facility in Moose Jaw, Saskatchewan. Gibson shares trade under the symbol GEI and are listed on the Toronto Stock Exchange.

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