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

Key Points

• Gibson Energy's stock price recently crossed above its 200-day moving average of C$23.04, reaching a high of C$25.80 during trading.
• Analysts have varying sentiments, with Raymond James issuing a "strong-buy" rating and raising the price target to C$30.50, while TD Securities downgraded the stock to a "hold" rating.
• The company announced a quarterly dividend of $0.43 per share, resulting in an annualized dividend yield of 6.7%, despite a high dividend payout ratio of 126.47%.

Gibson Energy Inc. (TSE:GEI - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$23.04 and traded as high as C$25.80. Gibson Energy shares last traded at C$25.68, with a volume of 419,925 shares traded.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GEI. Jefferies Financial Group raised shares of Gibson Energy from a "hold" rating to a "buy" rating and lifted their target price for the stock from C$23.00 to C$28.00 in a research report on Wednesday, July 23rd. National Bankshares boosted their price objective on shares of Gibson Energy from C$24.00 to C$25.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 30th. Wells Fargo & Company boosted their price objective on shares of Gibson Energy from C$23.00 to C$24.00 in a research report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price objective on shares of Gibson Energy from C$24.00 to C$25.00 and gave the company an "underweight" rating in a research report on Wednesday, August 20th. Finally, Royal Bank Of Canada boosted their price objective on shares of Gibson Energy from C$25.00 to C$26.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of C$26.50.

Gibson Energy Price Performance

The stock's 50-day moving average is C$24.68 and its 200 day moving average is C$23.07. The stock has a market capitalization of C$4.25 billion, a PE ratio of 20.11, a P/E/G ratio of 1.85 and a beta of 1.25. The company has a quick ratio of 0.87, a current ratio of 0.70 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. Investors of record on Tuesday, September 30th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 6.6%. Gibson Energy's payout ratio is presently 126.47%.

Insider Buying and Selling

In other Gibson Energy news, Senior Officer David Bruce Gosse bought 2,255 shares of the firm's stock in a transaction on Monday, June 9th. The stock was bought at an average cost of C$23.50 per share, with a total value of C$52,992.50. 0.85% of the stock is owned by corporate 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.