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

Key Points

• Gibson Energy's stock price recently surpassed its 200-day moving average, trading at C$26.19 with a high of C$26.29 during Monday's session.
• Analysts have generally upgraded their price targets for Gibson Energy, with increases from firms like Scotiabank and Royal Bank of Canada, while maintaining an "outperform" rating.
• The company declared a quarterly dividend of C$0.43, which provides an annual yield of 6.6%, although its dividend payout ratio is notably high at 173.20%.

Gibson Energy Inc. (TSE:GEI - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$23.43 and traded as high as C$26.29. Gibson Energy shares last traded at C$26.19, with a volume of 500,279 shares.

Analyst Upgrades and Downgrades

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

Gibson Energy Stock Down 0.0%

The firm's fifty day simple moving average is C$25.51 and its 200 day simple moving average is C$23.54. The company has a debt-to-equity ratio of 278.33, a quick ratio of 0.87 and a current ratio of 0.70. The stock has a market capitalization of C$4.34 billion, a price-to-earnings ratio of 27.34, a P/E/G ratio of 1.85 and a beta of 0.40.

Gibson Energy Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 6.5%. Gibson Energy's dividend payout ratio is currently 173.20%.

Insider Buying and Selling

In related news, Director Maria Hooper bought 5,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director owned 5,000 shares in the company, valued at C$128,600. The trade was a ∞ increase in their ownership of the stock. 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.