Gear Energy (TSE:GXE) Sets New 52-Week Low – Here’s Why

Gear Energy Ltd. (TSE:GXE) hit a new 52-week low during trading on Monday . The stock traded as low as C$0.47 and last traded at C$0.48, with a volume of 508418 shares. The stock had previously closed at C$0.49.

Analyst Upgrades and Downgrades

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

Gear Energy Stock Down 3.2 %

The company has a market capitalization of C$118.61 million, a price-to-earnings ratio of 9.00 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. The firm’s fifty day moving average price is C$0.54 and its 200-day moving average price is C$0.62.

Gear Energy (TSE:GXE) last issued its 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 return on equity of 5.36% and a net margin of 9.65%. The firm had revenue of C$38.82 million during the quarter, compared to analyst estimates of C$38.70 million. Sell-side analysts expect that Gear Energy Ltd. will post 0.1399549 earnings per share for the current fiscal year.

Gear Energy Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st will be paid a $0.005 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.06 annualized dividend and a dividend yield of 13.33%. Gear Energy’s dividend payout ratio is 120.00%.

Insider Activity at Gear Energy

In other news, Director Scott Robinson bought 74,000 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was acquired at an average price of C$0.59 per share, with a total value of C$43,978.20. 7.62% of the stock is currently owned by company insiders.

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.