Insider Buying: Gear Energy Ltd. (TSE:GXE) Director Buys C$156,110.40 in Stock

Gear Energy Ltd. (TSE:GXE) Director Kevin David Johnson bought 333,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were bought at an average cost of C$0.47 per share, for a total transaction of C$156,110.40.

Gear Energy Price Performance

Shares of TSE:GXE opened at C$0.48 on Friday. The firm has a 50 day simple moving average of C$0.53 and a 200 day simple moving average of C$0.61. Gear Energy Ltd. has a 52 week low of C$0.45 and a 52 week high of C$0.80. The company has a debt-to-equity ratio of 6.26, a quick ratio of 0.56 and a current ratio of 0.95. The company has a market cap of C$125.20 million, a PE ratio of 9.50 and a beta of 3.52.

Gear Energy (TSE:GXE) last released 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). The business had revenue of C$38.82 million during the quarter, compared to analysts’ expectations of C$38.70 million. Gear Energy had a net margin of 9.65% and a return on equity of 5.36%. As a group, research analysts expect that Gear Energy Ltd. will post 0.1399549 earnings per share for the current year.

Gear Energy Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.005 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.06 dividend on an annualized basis and a yield of 12.63%. Gear Energy’s payout ratio is presently 120.00%.

Analyst Ratings Changes

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