Gear Energy (TSE:GXE) Hits New 52-Week Low – Should You Sell?

Gear Energy Ltd. (TSE:GXE) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as C$0.52 and last traded at C$0.52, with a volume of 1746890 shares. The stock had previously closed at C$0.55.

Wall Street Analysts Forecast Growth

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

Gear Energy Trading Down 1.9 %

The company has a market capitalization of C$134.43 million, a price-to-earnings ratio of 10.20 and a beta of 3.52. 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 company’s 50 day simple moving average is C$0.58 and its two-hundred day simple moving average is C$0.66.

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

Gear Energy Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 29th will be issued a $0.005 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.06 dividend on an annualized basis and a yield of 11.76%. Gear Energy’s payout ratio is 120.00%.

Insider Buying and Selling at Gear Energy

In related news, Director Scott Robinson bought 74,000 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was acquired at an average price of C$0.59 per share, with a total value of C$43,978.20. 7.62% of the stock is owned by corporate insiders.

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.