Gear Energy Ltd. (TSE:GXE) Director Don Gray Acquires 294,500 Shares of Stock

Gear Energy Ltd. (TSE:GXE) Director Don Gray purchased 294,500 shares of the stock in a transaction dated Monday, May 6th. The shares were purchased at an average price of C$0.77 per share, with a total value of C$226,765.00.

Don Gray also recently made the following trade(s):

• On Friday, May 3rd, Don Gray bought 705,500 shares of Gear Energy stock. The stock was purchased at an average price of C$0.73 per share, with a total value of C$515,015.00.
• On Monday, March 11th, Don Gray sold 32,000 shares of Gear Energy stock. The stock was sold at an average price of C$0.66, for a total value of C$21,120.00.

Gear Energy Trading Up 2.6 %

Shares of GXE stock opened at C$0.78 on Thursday. Gear Energy Ltd. has a fifty-two week low of C$0.60 and a fifty-two week high of C$1.04. The company has a quick ratio of 0.56, a current ratio of 1.10 and a debt-to-equity ratio of 9.40. The stock has a market capitalization of C$205.44 million, a P/E ratio of 26.00 and a beta of 3.73. The stock has a 50-day simple moving average of C$0.67 and a 200 day simple moving average of C$0.68.

Gear Energy (TSE:GXE) last issued its earnings results on Wednesday, February 21st. The company reported C($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of C$0.02 by C($0.05). The business had revenue of C$37.52 million for the quarter. Gear Energy had a return on equity of 3.81% and a net margin of 7.00%. On average, sell-side analysts expect that Gear Energy Ltd. will post 0.1199324 earnings per share for the current fiscal year.

Gear Energy Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 31st will be paid a $0.005 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $0.06 dividend on an annualized basis and a yield of 7.69%. Gear Energy’s dividend payout ratio is currently 200.00%.

Analysts Set New Price Targets

Separately, ATB Capital decreased their price target on Gear Energy from C$1.25 to C$1.00 and set an “outperform” rating for the company in a research note on Thursday, January 18th.

About Gear Energy

Gear Energy Ltd., an exploration and production company, engages in the acquiring, developing, and holding of interests in petroleum and natural gas properties and assets in Canada. The company's oil properties are located in Central Alberta, West Central Saskatchewan, and Southeast Saskatchewan.