Gear Energy Ltd. (TSE:GXE) Director Don Gray Purchases 1,953,000 Shares of Stock

Gear Energy Ltd. (TSE:GXE) Director Don Gray acquired 1,953,000 shares of the stock in a transaction dated Monday, January 27th. The shares were bought at an average cost of C$0.50 per share, for a total transaction of C$976,500.00.

Gear Energy Stock Up 3.0 %

GXE opened at C$0.51 on Tuesday. The stock has a market cap of C$134.43 million, a price-to-earnings ratio of 10.20 and a beta of 3.52. The company has a debt-to-equity ratio of 6.26, a quick ratio of 0.56 and a current ratio of 0.95. The firm’s fifty day moving average is C$0.51 and its 200 day moving average is C$0.59. Gear Energy Ltd. has a fifty-two week low of C$0.45 and a fifty-two week high of C$0.80.

Gear Energy (TSE:GXE) last announced 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). Gear Energy had a net margin of 9.65% and a return on equity of 5.36%. The business had revenue of C$38.82 million during the quarter, compared to analysts’ expectations of C$38.70 million. On average, sell-side analysts forecast that Gear Energy Ltd. will post 0.1399549 earnings per share for the current fiscal year.

Gear Energy Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were paid a $0.005 dividend. 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 120.00%.

Wall Street Analysts Forecast Growth

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

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.