Gibson Energy (TSE:GEI) Hits New 52-Week High – Here’s Why

Shares of Gibson Energy Inc. (TSE:GEI) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$29.47 and last traded at C$29.40, with a volume of 622308 shares traded. The stock had previously closed at C$29.40.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GEI. Canadian Imperial Bank of Commerce increased their target price on Gibson Energy from C$26.00 to C$30.00 in a research note on Wednesday, December 3rd. BMO Capital Markets upped their price objective on Gibson Energy from C$25.00 to C$27.00 in a report on Wednesday, December 3rd. Royal Bank Of Canada increased their price objective on Gibson Energy from C$26.00 to C$28.00 in a research report on Wednesday, December 3rd. TD Securities boosted their target price on shares of Gibson Energy from C$26.00 to C$29.00 and gave the company a “hold” rating in a research report on Wednesday, February 18th. Finally, National Bank Financial set a C$29.00 price target on shares of Gibson Energy and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$27.50.

Gibson Energy Stock Performance

The company has a market capitalization of C$4.82 billion, a price-to-earnings ratio of 31.96, a price-to-earnings-growth ratio of 1.85 and a beta of 0.29. The firm has a fifty day moving average price of C$26.42 and a 200-day moving average price of C$25.65. The company has a debt-to-equity ratio of 278.33, a quick ratio of 0.87 and a current ratio of 0.70.

Insider Buying and Selling

In other news, Director Craig Richardson bought 1,000 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was bought at an average cost of C$26.07 per share, for a total transaction of C$26,070.00. Following the transaction, the director owned 2,000 shares of the company’s stock, valued at C$52,140. This represents a 100.00% increase in their ownership of the stock. 0.85% of the stock is currently owned by corporate 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. Gibson Energy Inc services Canada and the United States, and the majority of revenue comes from the marketing segment.