Gibson Energy Inc. (TSE:GEI) Declares Quarterly Dividend of $0.43

Key Points

• Gibson Energy Inc. declared a quarterly dividend of $0.43 per share, payable on October 17th to shareholders of record on September 30th, representing an annualized dividend of $1.72 with a yield of 6.94%.
• The company's stock recently traded at C$24.80, and analysts have set a consensus price target averaging C$26.55, with varied ratings including "strong buy" and "hold."
• Insider transactions included Senior Officer David Bruce Gosse and Director Curtis Philippon purchasing shares, indicating a total insider acquisition of 19,460 shares valued at approximately $436,982 over the last quarter.

Gibson Energy Inc. (TSE:GEI - Get Free Report) declared a quarterly dividend on Monday, July 28th, RTT News reports. Shareholders of record on Tuesday, September 30th will be given a dividend of 0.43 per share on Friday, October 17th. This represents a $1.72 dividend on an annualized basis and a yield of 6.94%.

Gibson Energy Trading Up 0.3%

TSE:GEI traded up C$0.07 on Monday, reaching C$24.80. The stock had a trading volume of 388,409 shares, compared to its average volume of 733,671. The company has a market cap of C$4.05 billion, a price-to-earnings ratio of 19.12, a P/E/G ratio of 1.85 and a beta of 1.25. The company has a debt-to-equity ratio of 278.33, a current ratio of 0.70 and a quick ratio of 0.87. The firm's fifty day moving average is C$23.75 and its two-hundred day moving average is C$23.02. Gibson Energy has a 12-month low of C$19.63 and a 12-month high of C$26.10.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. TD Securities downgraded shares of Gibson Energy from a "strong-buy" rating to a "hold" rating and increased their target price for the stock from C$24.00 to C$25.00 in a research report on Tuesday, June 17th. Raymond James Financial upped their target price 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. CIBC decreased their target price on shares of Gibson Energy from C$27.00 to C$26.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Finally, Jefferies Financial Group upgraded shares of Gibson Energy from a "hold" rating to a "buy" rating and upped their target price for the company from C$23.00 to C$28.00 in a research note on Wednesday, July 23rd. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$26.55.

Insider Transactions at Gibson Energy

In other Gibson Energy news, Senior Officer David Bruce Gosse acquired 2,255 shares of the business's stock in a transaction dated Monday, June 9th. The stock was bought at an average cost of C$23.50 per share, with a total value of C$52,992.50. Also, Director Curtis Philippon purchased 15,000 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were purchased at an average cost of C$22.26 per share, with a total value of C$333,900.00. 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 corporate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.