Gibson Energy (TSE:GEI) Stock Passes Above 200 Day Moving Average - What's Next?

Key Points

• Gibson Energy's stock crossed above its two hundred-day moving average, indicating a positive trend, with shares trading at C$25.46 after reaching a high of C$25.51.
• Analysts have raised their target prices for Gibson Energy, with recommendations ranging from "hold" to "strong-buy," reflecting overall confidence in the stock's performance.
• The company declared a quarterly dividend of $0.43 per share, representing an annualized yield of 6.8%, despite a high payout ratio of 126.47%.

Gibson Energy Inc. (TSE:GEI - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$22.99 and traded as high as C$25.51. Gibson Energy shares last traded at C$25.46, with a volume of 319,179 shares changing hands.

Analysts Set New Price Targets

Several analysts recently commented on the company. CIBC lowered their target price on 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. Raymond James Financial raised 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 report on Tuesday, June 17th. ATB Capital raised their target price 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. Jefferies Financial Group upgraded Gibson Energy from a "hold" rating to a "buy" rating and raised their target price for the company from C$23.00 to C$28.00 in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company raised their target price on Gibson Energy from C$23.00 to C$24.00 in a research report on Wednesday, July 30th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of C$26.59.

Gibson Energy Stock Down 0.0%

The company has a current ratio of 0.70, a quick ratio of 0.87 and a debt-to-equity ratio of 278.33. The firm has a market capitalization of C$4.20 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 1.85 and a beta of 1.25. The stock has a fifty day moving average of C$24.46 and a 200-day moving average of C$23.04.

Gibson Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Tuesday, September 30th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.7%. Gibson Energy's payout ratio is 126.47%.

Insider Activity

In related news, Senior Officer David Bruce Gosse bought 2,255 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were acquired at an average cost of C$23.50 per share, for a total transaction of C$52,992.50. 0.85% of the stock is owned by insiders.

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.