Gear Energy Ltd. (TSE:GXE) Director Buys C$51,000.00 in Stock

Gear Energy Ltd. (TSE:GXE) Director Scott Robinson purchased 100,000 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were purchased at an average cost of C$0.51 per share, with a total value of C$51,000.00.

Gear Energy Price Performance

TSE GXE remained flat at C$0.51 during trading hours on Friday. 350,469 shares of the company traded hands, compared to its average volume of 543,361. The company has a market cap of C$134.43 million, a P/E ratio of 10.20 and a beta of 3.52. Gear Energy Ltd. has a 52-week low of C$0.45 and a 52-week high of C$0.80. The stock has a 50-day moving average of C$0.51 and a 200-day moving average of C$0.58. The company has a current ratio of 0.95, a quick ratio of 0.56 and a debt-to-equity ratio of 6.26.

Gear Energy (TSE:GXE) last issued its earnings results on Thursday, November 7th. The company reported C$0.03 earnings per share 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 company had revenue of C$38.82 million for the quarter, compared to analyst estimates of C$38.70 million. On average, equities research analysts expect that Gear Energy Ltd. will post 0.1399549 earnings per share for the current year.

Gear Energy Announces Dividend

The business also recently announced a monthly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were given a dividend of $0.005 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.06 annualized dividend and a yield of 11.76%. Gear Energy’s payout ratio is currently 120.00%.

Analysts Set New Price Targets

Separately, Atb Cap Markets cut shares of Gear Energy from a “strong-buy” rating to a “hold” rating in a report 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.