Gear Energy Ltd. (TSE:GXE) Announces Monthly Dividend of $0.01

Gear Energy Ltd. (TSE:GXE) announced a monthly dividend on Monday, December 16th,TickerTech Dividends reports. Stockholders of record on Tuesday, December 31st will be given a dividend of 0.005 per share on Tuesday, December 31st. This represents a $0.06 dividend on an annualized basis and a dividend yield of 12.24%. The ex-dividend date is Monday, December 16th.

Gear Energy Stock Down 3.9 %

Shares of TSE GXE traded down C$0.02 during trading hours on Friday, hitting C$0.49. The stock had a trading volume of 788,500 shares, compared to its average volume of 512,673. The firm’s 50-day moving average price is C$0.55 and its two-hundred day moving average price is C$0.63. Gear Energy has a 52 week low of C$0.48 and a 52 week high of C$0.80. The company has a market capitalization of C$129.15 million, a P/E ratio of 9.80 and a beta of 3.52. The company has a debt-to-equity ratio of 6.26, a quick ratio of 0.56 and a current ratio of 0.95.

Gear Energy (TSE:GXE) last posted its earnings results on Thursday, November 7th. The company reported C$0.03 EPS for the quarter, missing the consensus estimate of C$0.04 by C($0.01). The business had revenue of C$38.82 million during the quarter, compared to the consensus estimate of C$38.70 million. Gear Energy had a return on equity of 5.36% and a net margin of 9.65%. Analysts anticipate that Gear Energy will post 0.1399549 EPS for the current fiscal year.

Insiders Place Their Bets

In other Gear Energy news, Director Scott Robinson bought 74,000 shares of the stock in a transaction on Thursday, October 3rd. The shares were purchased at an average price of C$0.59 per share, with a total value of C$43,978.20. Company insiders own 7.62% of the company’s stock.

Wall Street Analyst Weigh In

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

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.