Gear Energy Ltd. (TSE:GXE) Director Don Gray Acquires 705,500 Shares

Gear Energy Ltd. (TSE:GXE) Director Don Gray acquired 705,500 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average price of C$0.73 per share, with a total value of C$515,015.00.

Don Gray also recently made the following trade(s):

• On Monday, March 11th, Don Gray sold 32,000 shares of Gear Energy stock. The shares were sold at an average price of C$0.66, for a total transaction of C$21,120.00.

Gear Energy Stock Up 5.6 %

GXE traded up C$0.04 during trading on Monday, hitting C$0.76. The stock had a trading volume of 739,696 shares, compared to its average volume of 394,951. The stock has a 50 day simple moving average of C$0.67 and a two-hundred day simple moving average of C$0.68. The company has a market capitalization of C$200.17 million, a PE ratio of 24.00 and a beta of 3.73. Gear Energy Ltd. has a twelve month low of C$0.60 and a twelve month high of C$1.04. The company has a debt-to-equity ratio of 9.40, a quick ratio of 0.56 and a current ratio of 1.10.

Gear Energy (TSE:GXE) last issued its earnings results on Wednesday, February 21st. The company reported C($0.03) EPS for the quarter, missing analysts’ consensus estimates of C$0.02 by C($0.05). Gear Energy had a net margin of 7.00% and a return on equity of 3.81%. The business had revenue of C$37.52 million during the quarter. On average, research analysts predict that Gear Energy Ltd. will post 0.1199324 earnings per share for the current year.

Gear Energy Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 31st will be paid a dividend of $0.005 per share. This represents a $0.06 annualized dividend and a yield of 7.89%. The ex-dividend date is Tuesday, May 14th. Gear Energy’s payout ratio is currently 200.00%.

Analysts Set New Price Targets

Separately, ATB Capital dropped their target price on shares of Gear Energy from C$1.25 to C$1.00 and set an “outperform” rating on the stock in a research note on Thursday, January 18th.

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.