Gibson Energy (TSE:GEI) Shares Pass Above 200 Day Moving Average - Here's Why

Key Points

• Gibson Energy Inc. recently surpassed its 200-day moving average of C$23.02 and reached a trading high of C$24.85.
• Analysts have given Gibson Energy an average rating of "Moderate Buy" with an average price target of C$26.55, while recent upgrades and downgrades were noted from various firms.
• The company announced a quarterly dividend of $0.43, resulting in an annualized yield of 6.94%, despite a high dividend payout ratio of 126.47%.

Shares of Gibson Energy Inc. (TSE:GEI - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$23.02 and traded as high as C$24.85. Gibson Energy shares last traded at C$24.80, with a volume of 388,409 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. 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 note on Wednesday. Jefferies Financial Group upgraded Gibson Energy from a "hold" rating to a "buy" rating and lifted their price target for the company from C$23.00 to C$28.00 in a research report on Wednesday, July 23rd. TD Securities lowered Gibson Energy from a "strong-buy" rating to a "hold" rating and boosted their price objective for the stock from C$24.00 to C$25.00 in a report on Tuesday, June 17th. CIBC decreased their price objective on shares of Gibson Energy from C$27.00 to C$26.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Finally, Wells Fargo & Company lifted their target price on shares of Gibson Energy from C$23.00 to C$24.00 in a research report on Wednesday. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Gibson Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of C$26.59.

Gibson Energy Trading Up 0.3%

The stock has a market capitalization of C$4.09 billion, a P/E ratio of 19.32, a price-to-earnings-growth ratio of 1.85 and a beta of 1.25. The stock's fifty day moving average price is C$23.94 and its two-hundred day moving average price is C$23.04. The company has a current ratio of 0.70, a quick ratio of 0.87 and a debt-to-equity ratio of 278.33.

Gibson Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Tuesday, September 30th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 6.9%. Gibson Energy's dividend payout ratio is currently 126.47%.

Insider Activity

In related news, Senior Officer David Bruce Gosse bought 2,255 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was bought at an average cost of C$23.50 per share, for a total transaction of C$52,992.50. Also, Director Curtis Philippon purchased 15,000 shares of Gibson Energy stock in a transaction that occurred on Tuesday, May 13th. The shares were bought at an average price of C$22.26 per share, for a total transaction of C$333,900.00. In the last quarter, insiders bought 19,460 shares of company stock worth $436,982. 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.