Gibson Energy (TSE:GEI) Reaches New 52-Week Low – Here’s What Happened

Shares of Gibson Energy Inc. (TSE:GEI) hit a new 52-week low on Thursday . The company traded as low as C$20.72 and last traded at C$20.94, with a volume of 354964 shares trading hands. The stock had previously closed at C$21.32.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GEI. Wells Fargo & Company downgraded Gibson Energy from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, December 18th. Raymond James dropped their price objective on Gibson Energy from C$30.50 to C$29.50 and set a “strong-buy” rating on the stock in a research report on Thursday, February 20th. National Bankshares downgraded Gibson Energy from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from C$29.00 to C$24.00 in a research report on Wednesday, February 19th. Jefferies Financial Group dropped their price objective on Gibson Energy from C$26.00 to C$23.00 and set a “hold” rating on the stock in a research report on Thursday, February 20th. Finally, CIBC decreased their price target on Gibson Energy from C$29.00 to C$27.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$25.86.

Gibson Energy Stock Performance

The stock has a market capitalization of C$3.45 billion, a PE ratio of 16.29, a PEG ratio of 1.85 and a beta of 1.25. The company has a quick ratio of 0.87, a current ratio of 0.70 and a debt-to-equity ratio of 278.33. The firm has a 50 day moving average price of C$24.00 and a 200-day moving average price of C$23.37.

Insider Transactions at Gibson Energy

In other news, Director Curtis Philippon acquired 40,000 shares of Gibson Energy stock in a transaction dated Monday, December 9th. The stock was purchased at an average cost of C$25.46 per share, for a total transaction of C$1,018,400.00. Also, Senior Officer Kelly Holtby acquired 2,010 shares of Gibson Energy stock in a transaction dated Monday, December 30th. The stock was purchased at an average price of C$24.85 per share, with a total value of C$49,948.50. Insiders bought a total of 75,910 shares of company stock worth $1,786,139 over the last three months. 0.85% of the stock is currently owned by 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.