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

Key Points

• Gibson Energy shares rose above their 200-day moving average, reaching C$31.32 and closing around C$31.00 versus the C$29.58 average.
• Analyst sentiment is broadly positive: Gibson has a “Moderate Buy” consensus rating and a C$32.50 average price target, with several firms recently raising targets.
• The company declared a quarterly dividend of $0.45 per share, equivalent to an annualized $1.80 payout and a 5.8% yield, though its payout ratio is elevated at 176%.

Gibson Energy Inc. (TSE:GEI - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$29.58 and traded as high as C$31.32. Gibson Energy shares last traded at C$31.00, with a volume of 277,386 shares.

Analysts Set New Price Targets

GEI has been the topic of several recent research reports. TD upgraded shares of Gibson Energy from a "hold" rating to a "buy" rating and lifted their price target for the stock from C$29.00 to C$32.00 in a research report on Tuesday, May 26th. ATB Cormark Capital Markets increased their price objective on Gibson Energy from C$32.00 to C$34.00 and gave the company an "outperform" rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. raised their price objective on Gibson Energy from C$29.00 to C$30.00 in a research note on Thursday, July 30th. Scotiabank lifted their target price on Gibson Energy from C$29.00 to C$31.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 21st. Finally, Jefferies Financial Group lowered Gibson Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Gibson Energy has an average rating of "Moderate Buy" and a consensus price target of C$32.50.

Gibson Energy Trading Down 0.5%

The company's 50-day moving average is C$30.74 and its 200 day moving average is C$29.58. The company has a current ratio of 1.07, a quick ratio of 0.87 and a debt-to-equity ratio of 294.95. The firm has a market cap of C$5.35 billion, a PE ratio of 31.00, a P/E/G ratio of 1.85 and a beta of 0.12.

Gibson Energy (TSE:GEI - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The company reported C$0.48 earnings per share for the quarter. Gibson Energy had a net margin of 1.32% and a return on equity of 18.23%. The firm had revenue of C$4.83 billion for the quarter.

Gibson Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, July 17th were issued a dividend of $0.45 per share. The ex-dividend date was Monday, June 29th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.8%. Gibson Energy's payout ratio is currently 176.00%.

About Gibson Energy

Gibson is a leading liquids Infrastructure company with its principal businesses consisting of the storage, optimization, processing, and gathering of liquids and refined products, as well as waterborne vessel loading. Headquartered in Calgary, Alberta, the Company's operations are located across North America, with core terminal assets in Hardisty and Edmonton, Alberta, Ingleside and Wink, Texas, and a facility in Moose Jaw, Saskatchewan. Gibson shares trade under the symbol GEI and are listed on the Toronto Stock Exchange.

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