Gibson Energy (TSE:GEI) Hits New 52-Week High - Should You 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 during trading on Tuesday . The company traded as high as C$26.40 and last traded at C$26.35, with a volume of 25706 shares changing hands. The stock had previously closed at C$26.19.

Analyst Ratings Changes

GEI has been the subject of several research reports. Jefferies Financial Group raised Gibson Energy from a "hold" rating to a "buy" rating and increased their price objective for the company from C$23.00 to C$28.00 in a report on Wednesday, July 23rd. ATB Capital raised their price target on Gibson Energy from C$26.00 to C$27.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. TD Securities downgraded Gibson Energy from a "strong-buy" rating to a "hold" rating and lifted their price objective for the stock from C$24.00 to C$25.00 in a report on Tuesday, June 17th. JPMorgan Chase & Co. raised their target price on Gibson Energy from C$24.00 to C$25.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 20th. Finally, Scotiabank lifted their price objective on Gibson Energy from C$26.00 to C$27.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Gibson Energy has an average rating of "Moderate Buy" and a consensus target price of C$26.41.

Gibson Energy Price Performance

The firm's fifty day moving average is C$25.51 and its two-hundred day moving average is C$23.54. The company has a market cap of C$4.34 billion, a P/E ratio of 27.34, a P/E/G ratio of 1.85 and a beta of 0.40. 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. Investors of record on Tuesday, September 30th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 6.5%. Gibson Energy's dividend payout ratio (DPR) is currently 173.20%.

Insider Activity at Gibson Energy

In other Gibson Energy news, Director Maria Hooper acquired 5,000 shares of the company's stock in a transaction dated Monday, August 18th. The shares were purchased at an average cost of C$25.72 per share, for a total transaction of C$128,600.00. Following the completion of the purchase, the director owned 5,000 shares in the company, valued at approximately C$128,600. This trade represents a ∞ increase in their ownership of the stock. Company insiders own 0.85% of the company's stock.

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.