Gibson Energy (TSE:GEI) Reaches New 1-Year High - Here's What Happened

Key Points

• Gibson Energy reached a new 52-week high, trading at C$26.71 during mid-day, with a recent price of C$26.66.
• Analyst ratings show a moderate buy consensus, with target prices ranging from C$25.00 to C$28.00 based on reports from multiple firms.
• The company announced a quarterly dividend of $0.43 per share, translating to an annualized yield of 6.5% despite a high payout ratio of 173.20%.

Gibson Energy Inc. (TSE:GEI - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$26.71 and last traded at C$26.66, with a volume of 153709 shares trading hands. The stock had previously closed at C$26.52.

Analysts Set New Price Targets

GEI has been the topic of several research analyst reports. Jefferies Financial Group raised Gibson Energy from a "hold" rating to a "buy" rating and boosted their target price for the company from C$23.00 to C$28.00 in a research note on Wednesday, July 23rd. Royal Bank Of Canada boosted their target price on Gibson Energy from C$25.00 to C$26.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. boosted their target price on 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. Raymond James Financial boosted their target price on 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. Finally, BMO Capital Markets cut Gibson Energy from an "outperform" rating to a "hold" rating and boosted their target price for the company from C$26.00 to C$27.00 in a research note on Monday, September 8th. One research 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of C$26.41.

Gibson Energy Stock Up 1.1%

The company has a quick ratio of 0.87, a current ratio of 0.70 and a debt-to-equity ratio of 278.33. The company has a 50-day moving average of C$25.55 and a two-hundred day moving average of C$23.62. The company has a market capitalization of C$4.41 billion, a P/E ratio of 27.73, a price-to-earnings-growth ratio of 1.85 and a beta of 0.40.

Gibson Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Tuesday, September 30th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 6.4%. Gibson Energy's dividend payout ratio (DPR) is 173.20%.

Insider Buying and Selling

In related news, Director Maria Hooper bought 5,000 shares of the company's stock in a transaction on Monday, August 18th. The shares were acquired at an average cost of C$25.72 per share, with a total value of C$128,600.00. Following the completion of the acquisition, the director owned 5,000 shares of the company's stock, valued at C$128,600. The trade was a ∞ increase in their position. Company insiders own 0.85% of the company's stock.

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.