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

Gibson Energy (TSE:GEI) was downgraded by stock analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a note issued to investors on Wednesday,BayStreet.CA reports.

A number of other equities analysts have also weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of Gibson Energy from C$27.00 to C$28.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. BMO Capital Markets upgraded shares of Gibson Energy from a “market perform” rating to an “outperform” rating and raised their price target for the stock from C$25.50 to C$28.00 in a report on Thursday, December 5th. CIBC lifted their price target on shares of Gibson Energy from C$27.00 to C$29.00 in a research note on Thursday, December 5th. JPMorgan Chase & Co. decreased their price objective on Gibson Energy from C$27.00 to C$26.00 in a research report on Wednesday, October 2nd. Finally, Raymond James boosted their target price on shares of Gibson Energy from C$28.50 to C$30.00 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 stock. According to MarketBeat.com, Gibson Energy presently has a consensus rating of “Buy” and an average target price of C$27.11.

Gibson Energy Stock Performance

Gibson Energy stock traded up C$0.05 during midday trading on Wednesday, hitting C$24.36. 286,860 shares of the company were exchanged, compared to its average volume of 593,081. Gibson Energy has a fifty-two week low of C$19.79 and a fifty-two week high of C$26.10. The firm has a market capitalization of C$3.96 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 1.85 and a beta of 1.25. The company has a debt-to-equity ratio of 292.01, a quick ratio of 0.87 and a current ratio of 1.18. The business has a fifty day simple moving average of C$23.56 and a two-hundred day simple moving average of C$22.82.

Insider Activity

In other Gibson Energy news, Director Curtis Philippon bought 40,000 shares of Gibson Energy stock in a transaction dated Monday, December 9th. The shares were purchased at an average cost of C$25.46 per share, with a total value of C$1,018,400.00. Corporate insiders own 0.85% of the company’s stock.

Gibson Energy Company Profile

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.