The stock of Gibson Energy Inc. (TSE:GEI) gapped down by $0.12 today and has $14.74 target or 7.00% below today’s $15.85 share price. The 6 months technical chart setup indicates high risk for the $2.25 billion company. The gap down was reported on Nov, 11 by Barchart.com. If the $14.74 price target is reached, the company will be worth $157.50M 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 106,235 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 downgraded by TD Securities on Thursday, November 5 to “Hold”. On Tuesday, July 21 the stock rating was upgraded by FirstEnergy Capital to “Outperform”. The stock of Gibson Energy Inc. (TSE:GEI) earned “Sector Perform” rating by RBC Capital Markets on Wednesday, November 2. The stock of Gibson Energy Inc. (TSE:GEI) earned “Outperform” rating by Raymond James on Monday, October 5. RBC Capital Markets maintained the shares of GEI in a report on Friday, June 3 with “Sector Perform” rating. Scotia Capital maintained the stock with “Sector Perform” rating in Thursday, November 3 report. The stock of Gibson Energy Inc. (TSE:GEI) has “Buy” rating given on Monday, August 10 by TD Securities. The firm has “Sector Perform” rating by Scotia Capital given on Friday, August 7. The firm has “Sector Perform” rating by National Bank Canada given on Friday, June 3. The firm earned “Buy” rating on Monday, August 10 by Canaccord Genuity.
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 $2.25 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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