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

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

Gear Energy Trading Up 2.0 %

TSE GXE traded up C$0.01 on Monday, reaching C$0.51. The company had a trading volume of 788,081 shares, compared to its average volume of 593,738. The firm has a market cap of C$134.43 million, a price-to-earnings ratio of 10.20 and a beta of 3.52. The company has a debt-to-equity ratio of 6.26, a current ratio of 0.95 and a quick ratio of 0.56. Gear Energy Ltd. has a fifty-two week low of C$0.45 and a fifty-two week high of C$0.80. The business has a 50 day moving average of C$0.51 and a two-hundred day moving average of C$0.59.

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

Gear Energy Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were paid a $0.005 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 11.76%. The ex-dividend date was Monday, December 16th. Gear Energy’s dividend payout ratio is 120.00%.

Wall Street Analysts Forecast Growth

Separately, Atb Cap Markets downgraded Gear Energy from a “strong-buy” rating to a “hold” rating in a research note 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.