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Gibson Energy (GBNXF) was Downgraded to a Hold Rating at J.P. Morgan

In a report released today, Jeremy Tonet from J.P. Morgan downgraded Gibson Energy (GBNXFResearch Report) to Hold, with a price target of C$26.00. The company’s shares closed last Wednesday at $18.90.

According to TipRanks.com, Tonet is a 4-star analyst with an average return of 6.8% and a 56.6% success rate. Tonet covers the Industrial Goods sector, focusing on stocks such as Enterprise Products Partners, Magellan Midstream, and Pembina Pipeline.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Gibson Energy with a $20.46 average price target.

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Based on Gibson Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.81 billion and net profit of $36 million. In comparison, last year the company earned revenue of $1.36 billion and had a net profit of $17.55 million.

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Gibson Energy, Inc. engages in the movement, storage, blending, processing, marketing, and distribution of crude oil, condensate, natural gas liquids, water, oilfield waste, and refined products. It operates through the following segments: Infrastructure and Marketing. The Infrastructure segment includes midstream infrastructure assets comprising of oil terminals, rail loading and unloading facilities, injection stations, gathering pipelines, and processing. The Marketing segment involves in purchasing, selling, storing and optimizing of hydrocarbon products as part of supplying the Moose Jaw Facility and marketing its refined products, as well as part of supplying and driving volumes through the Company’s key infrastructure assets. The company was founded in 1950 and is headquartered in Calgary, Canada.

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