Gibson Energy (TSE:GEI) Given New C$33.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised Gibson Energy’s price target to C$33.00 from C$30.00 and maintained an “outperform” rating, implying about 1% upside from the reported share price.
• Analyst sentiment is broadly positive: Gibson has a consensus “Moderate Buy” rating and an average price target of C$31.27, with recent target increases from National Bank Financial, BMO Capital Markets and CIBC.
• Gibson shares rose 1.7% to C$32.67, near their 12-month high of C$32.99. The company recently reported quarterly earnings of C$0.48 per share on revenue of C$4.83 billion.

Gibson Energy (TSE:GEI - Get Free Report) had its price objective increased by stock analysts at Royal Bank Of Canada from C$30.00 to C$33.00 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective would indicate a potential upside of 1.01% from the stock's current price.

Other equities analysts also recently issued reports about the company. National Bank Financial lifted their target price on Gibson Energy from C$30.00 to C$33.00 and gave the company an "outperform" rating in a research report on Monday, June 1st. BMO Capital Markets increased their price target on shares of Gibson Energy from C$29.00 to C$32.00 in a research report on Tuesday. TD Securities raised shares of Gibson Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 26th. Jefferies Financial Group cut shares of Gibson Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 22nd. Finally, Canadian Imperial Bank of Commerce increased their target price on shares of Gibson Energy from C$33.00 to C$34.00 in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$31.27.

Gibson Energy Trading Up 1.7%

TSE:GEI traded up C$0.56 during trading hours on Wednesday, reaching C$32.67. 399,352 shares of the stock were exchanged, compared to its average volume of 807,400. Gibson Energy has a twelve month low of C$22.09 and a twelve month high of C$32.99. The business has a 50-day moving average of C$29.67 and a two-hundred day moving average of C$28.75. The company has a market capitalization of C$5.63 billion, a price-to-earnings ratio of 36.71, a PEG ratio of 1.85 and a beta of 0.11. The company has a quick ratio of 0.87, a current ratio of 1.07 and a debt-to-equity ratio of 294.95.

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

About Gibson Energy

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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