Gear Energy Ltd. (TSE:GXE) Director Don Gray Acquires 1,953,000 Shares

Gear Energy Ltd. (TSE:GXE) Director Don Gray purchased 1,953,000 shares of the business’s stock in a transaction on Monday, January 27th. The stock was acquired at an average price of C$0.50 per share, with a total value of C$976,500.00.

Gear Energy Stock Performance

Gear Energy stock opened at C$0.50 on Thursday. Gear Energy Ltd. has a 1 year low of C$0.45 and a 1 year high of C$0.80. The firm’s 50 day moving average price is C$0.51 and its 200-day moving average price is C$0.58. The company has a debt-to-equity ratio of 6.26, a current ratio of 0.95 and a quick ratio of 0.56. The stock has a market cap of C$131.79 million, a P/E ratio of 10.00 and a beta of 3.52.

Gear Energy (TSE:GXE) last announced its quarterly earnings results on Thursday, November 7th. The company reported C$0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.04 by C($0.01). Gear Energy had a net margin of 9.65% and a return on equity of 5.36%. The company had revenue of C$38.82 million during the quarter, compared to the consensus estimate of C$38.70 million. On average, equities analysts predict that Gear Energy Ltd. will post 0.1399549 earnings per share for the current fiscal year.

Gear Energy Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were given a $0.005 dividend. The ex-dividend date was Monday, December 16th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 12.00%. Gear Energy’s dividend payout ratio is currently 120.00%.

Wall Street Analysts Forecast Growth

Separately, Atb Cap Markets cut Gear Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 15th.

Gear Energy Company Profile

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.