Gibson Energy (TSE:GEI) Downgraded by Canadian Imperial Bank of Commerce to Neutral

Gibson Energy (TSE:GEI) was downgraded by stock analysts at Canadian Imperial Bank of Commerce from an “outperformer” rating to a “neutral” rating in a research note issued on Thursday, BayStreet reports. They currently have a C$34.00 price objective on the stock. Canadian Imperial Bank of Commerce‘s target price indicates a potential upside of 3.00% from the company’s current price.

A number of other analysts have also issued reports on the stock. TD increased their price target on shares of Gibson Energy from C$34.00 to C$35.00 and gave the stock a “buy” rating in a research report on Tuesday, September 1st. JPMorgan Chase & Co. raised their price target on shares of Gibson Energy from C$29.00 to C$30.00 in a report on Thursday, July 30th. BMO Capital Markets boosted their price objective on shares of Gibson Energy from C$29.00 to C$32.00 in a research report on Tuesday, July 28th. Jefferies Financial Group lowered shares of Gibson Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Finally, ATB Cormark Capital Markets increased their target price on shares of Gibson Energy from C$34.00 to C$35.00 in a research report on Wednesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$32.90.

Gibson Energy Stock Down 1.7%

TSE:GEI traded down C$0.58 during trading hours on Thursday, hitting C$33.01. 1,168,776 shares of the company’s stock traded hands, compared to its average volume of 746,419. The stock’s fifty day moving average price is C$31.62 and its two-hundred day moving average price is C$30.24. The firm has a market cap of C$5.70 billion, a P/E ratio of 33.01, a P/E/G ratio of 1.85 and a beta of -0.03. The company has a debt-to-equity ratio of 294.95, a quick ratio of 0.87 and a current ratio of 1.07. Gibson Energy has a twelve month low of C$22.09 and a twelve month high of C$33.67.

Gibson Energy (TSE:GEI) last announced its quarterly earnings data on Monday, July 27th. The company reported C$0.48 EPS for the quarter. Gibson Energy had a return on equity of 18.23% and a net margin of 1.32%. The firm had revenue of C$4.83 billion during the quarter.

About Gibson Energy

Gibson is a leading liquids Infrastructure company with its principal businesses consisting of the storage, optimization, processing, and gathering of liquids and refined products, as well as waterborne vessel loading. Headquartered in Calgary, Alberta, the Company’s operations are located across North America, with core terminal assets in Hardisty and Edmonton, Alberta, Ingleside and Wink, Texas, and a facility in Moose Jaw, Saskatchewan. Gibson shares trade under the symbol GEI and are listed on the Toronto Stock Exchange.