Gibson Energy (TSE:GEI) Stock Rating Lowered by Scotiabank

Key Points

• Scotiabank downgraded Gibson Energy's stock rating from "outperform" to "sector perform", with a new price target of C$25.00, down from C$27.00.
• Despite the downgrade, Gibson Energy showed mixed outlooks from other analysts, with Royal Bank of Canada raising its target to C$26.00, maintaining an "outperform" rating.
• Gibson Energy's shares recently traded at C$23.55, with a market capitalization of C$3.86 billion and a debt-to-equity ratio of 278.33.

Gibson Energy (TSE:GEI - Get Free Report) was downgraded by analysts at Scotiabank from an "outperform" rating to a "sector perform" rating in a research note issued on Monday,BayStreet.CA reports. They currently have a C$25.00 price objective on the stock, down from their prior price objective of C$27.00. Scotiabank's price objective would indicate a potential upside of 6.16% from the company's previous close.

Other equities research analysts also recently issued research reports about the company. Royal Bank Of Canada increased their price objective on 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. National Bankshares increased their target price on shares of Gibson Energy from C$24.00 to C$25.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 30th. BMO Capital Markets cut shares of Gibson Energy from an "outperform" rating to a "hold" rating and upped their price target for the company from C$26.00 to C$27.00 in a report on Monday, September 8th. ATB Capital increased their target price on shares of 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. Finally, Wells Fargo & Company increased their target price on shares of Gibson Energy from C$23.00 to C$24.00 in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of C$26.23.

Gibson Energy Price Performance

Shares of TSE:GEI traded down C$0.10 on Monday, reaching C$23.55. 462,188 shares of the company traded hands, compared to its average volume of 695,064. Gibson Energy has a fifty-two week low of C$19.63 and a fifty-two week high of C$27.37. The company's 50 day moving average is C$25.79 and its 200-day moving average is C$24.06. The stock has a market capitalization of C$3.86 billion, a PE ratio of 24.28, a P/E/G ratio of 1.85 and a beta of 0.27. The company has a debt-to-equity ratio of 278.33, a current ratio of 0.70 and a quick ratio of 0.87.

Insider Buying and Selling at Gibson Energy

In other news, Director Maria Hooper acquired 5,000 shares of the company's stock in a transaction dated Monday, August 18th. The stock was bought at an average price of C$25.72 per share, with a total value of C$128,600.00. Following the completion of the acquisition, the director owned 5,000 shares in the company, valued at approximately C$128,600. This represents a ∞ increase in their position. 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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