Wells Fargo & Company Downgrades Gibson Energy (TSE:GEI) to Equal Weight

Wells Fargo & Company downgraded shares of Gibson Energy (TSE:GEI - Free Report) from an overweight rating to an equal weight rating in a research note released on Wednesday morning,BayStreet.CA reports.

Several other brokerages have also issued reports on GEI. Jefferies Financial Group upped their target price on Gibson Energy from C$25.00 to C$26.00 in a research note on Thursday, December 5th. Scotiabank boosted their price objective on shares of Gibson Energy from C$25.00 to C$26.00 in a report on Thursday, December 5th. JPMorgan Chase & Co. reduced their target price on shares of Gibson Energy from C$27.00 to C$26.00 in a report on Wednesday, October 2nd. Raymond James lifted their target price on shares of Gibson Energy from C$28.50 to C$30.00 in a research report on Thursday, December 5th. Finally, BMO Capital Markets upgraded shares of Gibson Energy from a "market perform" rating to an "outperform" rating and upped their price target for the company from C$25.50 to C$28.00 in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of C$27.11.

Gibson Energy Price Performance

Shares of Gibson Energy stock traded down C$0.16 during trading on Wednesday, hitting C$24.15. The stock had a trading volume of 1,451,468 shares, compared to its average volume of 597,918. The firm has a market cap of C$3.93 billion, a price-to-earnings ratio of 22.78, a P/E/G ratio of 1.85 and a beta of 1.25. Gibson Energy has a 12 month low of C$19.79 and a 12 month high of C$26.10. The business's 50-day moving average is C$23.59 and its 200 day moving average is C$22.83. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 292.01.

Gibson Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.64 dividend on an annualized basis and a yield of 6.79%. Gibson Energy's dividend payout ratio is presently 154.72%.

Insider Buying and Selling at Gibson Energy

In related news, Director Curtis Philippon bought 40,000 shares of the company's stock in a transaction dated Monday, December 9th. The stock was purchased at an average cost of C$25.46 per share, with a total value of C$1,018,400.00. 0.85% of the stock is currently owned by corporate insiders.

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.