The stock of Gibson Energy Inc. (TSE:GEI) gapped up by $0.44 today and has $18.91 target or 5.00% above today’s $18.01 share price. The 7 months technical chart setup indicates low risk for the $2.52 billion company. The gap was reported on Nov, 30 by Barchart.com. If the $18.91 price target is reached, the company will be worth $126.00 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 218,797 shares traded hands. Gibson Energy Inc. (TSE:GEI) has declined 5.67% since April 26, 2016 and is downtrending. It has underperformed by 10.90% 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 4.89% above today’s ($18.01) stock price. Gibson Energy Inc has been the topic of 31 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The company was maintained on Friday, August 7 by Scotia Capital. The stock has “Sector Perform” rating given by Scotia Capital on Thursday, November 3. The rating was maintained by TD Securities on Monday, August 10 with “Buy”. The rating was maintained by RBC Capital Markets on Wednesday, November 2 with “Sector Perform”. The firm has “Outperform” rating by FirstEnergy Capital given on Tuesday, July 21. The firm earned “Buy” rating on Monday, August 10 by Canaccord Genuity. TD Securities downgraded Gibson Energy Inc. (TSE:GEI) rating on Thursday, November 5. TD Securities has “Hold” rating and $18.50 price target. The stock of Gibson Energy Inc. (TSE:GEI) has “Sector Perform” rating given on Friday, June 3 by RBC Capital Markets. The rating was upgraded by Raymond James to “Outperform” on Monday, October 5. The firm has “Sector Perform” rating by National Bank Canada given on Friday, June 3.
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 $2.52 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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