The stock of Gibson Energy Inc. (TSE:GEI) gapped down by $0.07 today and has $15.14 target or 5.00% below today’s $15.94 share price. The 8 months technical chart setup indicates high risk for the $2.26 billion company. The gap down was reported on Nov, 11 by Barchart.com. If the $15.14 price target is reached, the company will be worth $113.00M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 140,517 shares traded hands. Gibson Energy Inc. (TSE:GEI) has declined 2.47% since April 7, 2016 and is downtrending. It has underperformed by 8.61% the S&P500.
Gibson Energy Inc. (TSE:GEI) Ratings Coverage
Out of 6 analysts covering Gibson Energy Inc (TSE:GEI), 2 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 33% are positive. Gibson Energy Inc has been the topic of 31 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was maintained by Scotia Capital on Thursday, November 3 with “Sector Perform”. On Monday, August 10 the stock rating was maintained by Canaccord Genuity with “Buy”. The rating was upgraded by FirstEnergy Capital to “Outperform” on Tuesday, July 21. The rating was maintained by RBC Capital Markets on Wednesday, November 2 with “Sector Perform”. RBC Capital Markets maintained Gibson Energy Inc. (TSE:GEI) rating on Friday, June 3. RBC Capital Markets has “Sector Perform” rating and $17 price target. The company was downgraded on Thursday, November 5 by TD Securities. The firm earned “Sector Perform” rating on Friday, August 7 by Scotia Capital. The rating was maintained by National Bank Canada with “Sector Perform” on Friday, June 3. On Monday, August 10 the stock rating was maintained by TD Securities with “Buy”. The company was upgraded on Monday, October 5 by Raymond James.
Gibson Energy Inc. is a Canada-based integrated service well-known provider to the gas and oil industry with activities across producing regions throughout North America. The company has a market cap of $2.26 billion. The Firm is engaged in the movement, storage, blending, processing, marketing and distribution of crude oil, condensate, natural gas liquids , water, oilfield waste and refined products. It currently has negative earnings. The Company’s divisions are Terminals and Pipelines, Environmental Services, Truck Transportation, Propane and NGL Marketing and Distribution, Processing and Wellsite Fluids, and Marketing.
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