The stock of Gibson Energy Inc. (TSE:GEI) gapped up by $0.04 today and has $20.14 target or 22.00% above today’s $16.51 share price. The 7 months technical chart setup indicates low risk for the $2.35 billion company. The gap was reported on Nov, 15 by Barchart.com. If the $20.14 price target is reached, the company will be worth $517.00 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 152,867 shares traded hands. Gibson Energy Inc. (TSE:GEI) has declined 8.08% since April 11, 2016 and is downtrending. It has underperformed by 12.01% 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. $28 is the highest target while $16 is the lowest. The $18.89 average target is 14.42% above today’s ($16.51) stock price. Gibson Energy Inc has been the topic of 31 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Scotia Capital maintained the stock with “Sector Perform” rating in Friday, August 7 report. On Monday, August 10 the stock rating was maintained by TD Securities with “Buy”. The rating was maintained by Canaccord Genuity with “Buy” on Monday, August 10. The firm earned “Sector Perform” rating on Wednesday, November 2 by RBC Capital Markets. The rating was maintained by National Bank Canada on Friday, June 3 with “Sector Perform”. The company was upgraded on Monday, October 5 by Raymond James. The firm earned “Hold” rating on Thursday, November 5 by TD Securities. RBC Capital Markets maintained Gibson Energy Inc. (TSE:GEI) on Friday, June 3 with “Sector Perform” rating. The rating was maintained by Scotia Capital with “Sector Perform” on Thursday, November 3. The rating was upgraded by FirstEnergy Capital on Tuesday, July 21 to “Outperform”.
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 $2.35 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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