Don Gray Acquires 294,500 Shares of Gear Energy Ltd. (TSE:GXE) Stock

Gear Energy Ltd. (TSE:GXE) Director Don Gray bought 294,500 shares of Gear Energy stock in a transaction on Monday, May 6th. The stock was acquired at an average cost of C$0.77 per share, with a total value of C$226,765.00.

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

• On Friday, May 3rd, Don Gray purchased 705,500 shares of Gear Energy stock. The stock was bought at an average price of C$0.73 per share, with a total value of C$515,015.00.
• On Monday, March 11th, Don Gray sold 32,000 shares of Gear Energy stock. The stock was sold at an average price of C$0.66, for a total transaction of C$21,120.00.

Gear Energy Price Performance

Shares of Gear Energy stock traded up C$0.02 on Wednesday, hitting C$0.78. The company’s stock had a trading volume of 1,204,259 shares, compared to its average volume of 404,686. The company has a quick ratio of 0.56, a current ratio of 1.10 and a debt-to-equity ratio of 9.40. The firm has a fifty day moving average price of C$0.67 and a 200-day moving average price of C$0.68. Gear Energy Ltd. has a 52-week low of C$0.60 and a 52-week high of C$1.04. The company has a market capitalization of C$205.44 million, a P/E ratio of 25.17 and a beta of 3.73.

Gear Energy (TSE:GXE) last released its quarterly earnings results on Wednesday, February 21st. The company reported C($0.03) EPS for the quarter, missing the consensus estimate 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, equities research analysts expect that Gear Energy Ltd. will post 0.1199324 earnings per share for the current fiscal year.

Gear Energy Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 7.69%. The ex-dividend date is Tuesday, May 14th. Gear Energy’s payout ratio is currently 200.00%.

Wall Street Analysts Forecast Growth

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

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.