Gear Energy (TSE:GXE) Stock Price Down 3.9% – Here’s What Happened

Gear Energy Ltd. (TSE:GXE)’s share price was down 3.9% during trading on Friday . The stock traded as low as C$0.49 and last traded at C$0.49. Approximately 64,109 shares changed hands during trading, a decline of 87% from the average daily volume of 509,457 shares. The stock had previously closed at C$0.51.

Wall Street Analyst Weigh In

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

Gear Energy Stock Performance

The firm has a fifty day moving average of C$0.55 and a 200-day moving average of C$0.63. The company has a quick ratio of 0.56, a current ratio of 0.95 and a debt-to-equity ratio of 6.26. The firm has a market cap of C$127.84 million, a P/E ratio of 10.20 and a beta of 3.52.

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

Gear Energy Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 29th were paid a $0.005 dividend. This represents a $0.06 annualized dividend and a yield of 12.37%. The ex-dividend date of this dividend was Friday, November 15th. Gear Energy’s payout ratio is 120.00%.

Insiders Place Their Bets

In other Gear Energy news, Director Scott Robinson acquired 74,000 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The shares were acquired 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.

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.