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

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 two hundred day moving average during trading on Monday . The stock has a two hundred 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.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GEI. Raymond James Financial boosted their target price on shares of Gibson Energy from C$30.00 to C$30.50 and gave the stock a "strong-buy" rating in a research note on Tuesday, June 17th. Wells Fargo & Company lifted their price target on Gibson Energy from C$23.00 to C$24.00 in a report on Wednesday, July 30th. ATB Capital increased their price objective on Gibson Energy from C$26.00 to C$27.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Scotiabank raised their target price on Gibson Energy from C$26.00 to C$27.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Finally, TD Securities cut Gibson Energy from a "strong-buy" rating to a "hold" rating and boosted their target price for the stock from C$24.00 to C$25.00 in a research note on Tuesday, June 17th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of C$26.59.

Gibson Energy Stock Performance

The company has a market cap of C$4.15 billion, a PE ratio of 19.63, a PEG ratio of 1.85 and a beta of 1.25. The stock has a 50 day simple moving average of C$24.28 and a two-hundred day simple moving average of C$22.99. The company has a debt-to-equity ratio of 278.33, a current ratio of 0.70 and a quick ratio of 0.87.

Gibson Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 6.8%. Gibson Energy's dividend payout ratio is currently 126.47%.

Insider Transactions at Gibson Energy

In other Gibson Energy news, Senior Officer David Bruce Gosse bought 2,255 shares of Gibson Energy stock in a transaction dated Monday, June 9th. The stock was acquired at an average cost of C$23.50 per share, with a total value of C$52,992.50. 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.

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