Gibson Energy Inc. Stock Forecast:
According to 11 analysts, the average target price for Gibson Energy Inc. over the next 12 months is CAD 23.57. The average analyst rating for the stock is “Hold.” Stock Target Advisor‘s analysis of Gibson Energy Inc. indicates a “Slightly Bullish” outlook based on 11 positive signals and 6 negative signals. As of the last closing, the stock price of Gibson Energy Inc. was CAD 21.30. Over the past week, the stock price has decreased by -5.96%, over the past month by -2.34%, and over the last year by -20.40%.
Analysts Coverage Change:
- STA Research (RANK #59) maintains Gibson Energy (GEI:TSX) with a “Hold” rating and a target price of $23.
- Credit Suisse Group (RANK #6) maintains Gibson Energy’s “Outperform” rating and raises the target price to to $26.50 from $25.50.
Gibson Energy Inc. News:
Gibson Energy Inc, a Canadian energy infrastructure firm, is making waves in the industry with its latest announcement. On Wednesday, the company revealed its plans to acquire the South Texas Gateway oil terminal from Buckeye Partners and its partners for a staggering $1.1 billion. This move signifies Gibson Energy’s determination to expand its presence in the lucrative U.S. crude oil export markets.
The decision to acquire the South Texas Gateway oil terminal comes at a time when U.S. crude oil exports are experiencing remarkable growth. The increasing production from the low-cost and resource-rich Permian Basin has been a key driver behind this surge. Gibson Energy recognizes the immense potential for future expansions at the terminal, and the acquisition aligns perfectly with the company’s strategic vision.
In a statement, the Calgary, Alberta-based company expressed its enthusiasm for the deal and outlined its intentions. “As U.S. crude oil exports grow, driven by production growth from the low-cost, resource-rich Permian basin, Gibson anticipates the potential for future expansions at the terminal,” the company declared. This statement highlights Gibson Energy’s forward-thinking approach and its commitment to capitalizing on emerging opportunities in the energy sector.
To finance the acquisition, Gibson Energy plans to leverage a C$350 million equity offering alongside other debt offerings. This combination of financing strategies underscores the company’s dedication to maintaining a strong financial position while pursuing its growth aspirations. It also demonstrates the confidence of investors in the company’s ability to execute strategic moves effectively.
