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

Gear Energy Ltd. (TSE:GXE) declared a monthly dividend on Tuesday, July 2nd, Zacks reports. Stockholders of record on Monday, July 15th will be given a dividend of 0.005 per share on Wednesday, July 31st. This represents a $0.06 dividend on an annualized basis and a dividend yield of 8.70%. The ex-dividend date of this dividend is Monday, July 15th.

Gear Energy Stock Performance

Shares of Gear Energy stock remained flat at C$0.69 during trading hours on Wednesday. The stock had a trading volume of 1,263 shares, compared to its average volume of 398,704. The business’s 50-day simple moving average is C$0.71 and its 200 day simple moving average is C$0.67. The firm has a market capitalization of C$181.73 million, a price-to-earnings ratio of 23.00 and a beta of 3.69. The company has a debt-to-equity ratio of 9.40, a current ratio of 1.10 and a quick ratio of 0.56. Gear Energy has a 52 week low of C$0.60 and a 52 week high of C$1.04.

Gear Energy (TSE:GXE) last released its quarterly earnings data on Wednesday, May 1st. The company reported C$0.01 EPS for the quarter, missing analysts’ consensus estimates of C$0.02 by C($0.01). The firm had revenue of C$35.67 million during the quarter, compared to analysts’ expectations of C$36.70 million. Gear Energy had a return on equity of 3.81% and a net margin of 7.00%. Sell-side analysts forecast that Gear Energy will post 0.1099554 EPS for the current year.

Insider Buying and Selling at Gear Energy

In other Gear Energy news, Director Kevin David Johnson bought 192,900 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were bought at an average cost of C$0.78 per share, with a total value of C$150,462.00. In other Gear Energy news, Director Kevin David Johnson bought 192,900 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were bought at an average cost of C$0.78 per share, with a total value of C$150,462.00. Also, Director Don Gray bought 294,500 shares of the business’s stock in a transaction on Monday, May 6th. The stock was acquired at an average cost of C$0.77 per share, for a total transaction of C$226,765.00. Insiders acquired a total of 1,218,900 shares of company stock worth $910,442 in the last 90 days. 7.57% of the stock is owned by corporate 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.