Raymond James Has Lowered Expectations for Gibson Energy (TSE:GEI) Stock Price

Gibson Energy (TSE:GEI) had its price target dropped by investment analysts at Raymond James from C$30.50 to C$29.50 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has a “strong-buy” rating on the stock. Raymond James’ price objective points to a potential upside of 40.48% from the company’s current price.

Several other brokerages also recently issued reports on GEI. Jefferies Financial Group reduced their price objective on shares of Gibson Energy from C$26.00 to C$23.00 and set a “hold” rating on the stock in a research note on Thursday. TD Securities set a C$25.00 price objective on shares of Gibson Energy and gave the stock a “hold” rating in a research report on Wednesday, January 15th. ATB Capital dropped their price objective on shares of Gibson Energy from C$28.00 to C$26.00 and set an “outperform” rating for the company in a research report on Thursday. CIBC decreased their target price on shares of Gibson Energy from C$29.00 to C$27.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, National Bankshares downgraded shares of Gibson Energy from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from C$29.00 to C$24.00 in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$25.86.

Gibson Energy Price Performance

Shares of TSE GEI traded down C$0.71 on Thursday, hitting C$21.00. The company’s stock had a trading volume of 1,559,843 shares, compared to its average volume of 730,374. Gibson Energy has a 12-month low of C$20.64 and a 12-month high of C$26.10. The company has a market capitalization of C$3.43 billion, a price-to-earnings ratio of 16.19, a price-to-earnings-growth ratio of 1.85 and a beta of 1.25. The company has a debt-to-equity ratio of 278.33, a current ratio of 0.70 and a quick ratio of 0.87. The stock has a 50 day moving average of C$24.71 and a 200-day moving average of C$23.42.

Insider Transactions at Gibson Energy

In other news, Director Curtis Philippon acquired 40,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were acquired at an average price of C$25.46 per share, with a total value of C$1,018,400.00. Also, Senior Officer Kelly Holtby acquired 2,010 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average cost of C$24.85 per share, for a total transaction of C$49,948.50. Insiders own 0.85% of the company’s stock.

About Gibson Energy

Gibson Energy Inc, together with its subsidiaries, engages in the gathering, storage, optimization, processing, and marketing of liquids and refined products in Canada and the United States. It operates through Infrastructure and Marketing segments. The Infrastructure segment operates a network of liquid infrastructure assets that include oil terminals, rail loading and unloading facilities, gathering pipelines, a crude oil processing facility, and other terminals.