Gibson Energy (TSE:GEI) Hits New 52-Week High - Time to Buy?

Key Points

• Gibson Energy shares reached a new 52-week high of C$26.40, reflecting increased market interest with a trading volume of 25,706 shares.
• Analysts have mixed sentiments, with TD Securities downgrading the rating to "hold," while other firms like Scotiabank and Raymond James remain positive with target price increases.
• The company announced a quarterly dividend of $0.43 per share, resulting in a 6.5% dividend yield, alongside a payout ratio of 173.20%.

Gibson Energy Inc. (TSE:GEI - Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as C$26.40 and last traded at C$26.35, with a volume of 25706 shares trading hands. The stock had previously closed at C$26.19.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GEI shares. TD Securities downgraded shares of Gibson Energy from a "strong-buy" rating to a "hold" rating and raised their target price for the company from C$24.00 to C$25.00 in a research note on Tuesday, June 17th. JPMorgan Chase & Co. raised their target price on shares of Gibson Energy from C$24.00 to C$25.00 and gave the company an "underweight" rating in a research note on Wednesday, August 20th. BMO Capital Markets downgraded shares of Gibson Energy from an "outperform" rating to a "hold" rating and raised their target price for the company from C$26.00 to C$27.00 in a research note on Monday, September 8th. Scotiabank raised their target price on shares of Gibson Energy from C$26.00 to C$27.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Finally, Raymond James Financial raised 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. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$26.41.

Gibson Energy Stock Up 1.0%

The firm has a market cap of C$4.33 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 1.85 and a beta of 0.40. The business's 50 day moving average price is C$25.30 and its 200 day moving average price is C$23.43. The company has a debt-to-equity ratio of 278.33, a quick ratio of 0.87 and a current ratio of 0.70.

Gibson Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.5%. Gibson Energy's payout ratio is 173.20%.

Insider Activity at Gibson Energy

In other news, Director Maria Hooper acquired 5,000 shares of the company's stock in a transaction dated Monday, August 18th. The shares were acquired at an average price of C$25.72 per share, with a total value of C$128,600.00. Following the purchase, the director directly owned 5,000 shares of the company's stock, valued at C$128,600. This trade represents a ∞ increase in their ownership of the stock. 0.85% of the stock is owned by insiders.

Gibson Energy Company Profile

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.

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