Gear Energy Ltd. Declares Monthly Dividend of $0.01 (TSE:GXE)

Gear Energy Ltd. (TSE:GXE) announced a monthly dividend on Tuesday, July 2nd, Zacks reports. Stockholders of record on Monday, July 15th will be given a dividend of 0.005 per share on Wednesday, July 31st. This represents a $0.06 annualized dividend and a dividend yield of 8.70%. The ex-dividend date is Monday, July 15th.

Gear Energy Price Performance

Shares of TSE GXE remained flat at C$0.69 during midday trading on Wednesday. The stock had a trading volume of 1,263 shares, compared to its average volume of 398,704. The stock has a fifty day simple moving average of C$0.71 and a 200-day simple moving average of C$0.67. The stock has a market cap of C$181.73 million, a price-to-earnings ratio of 23.00 and a beta of 3.69. Gear Energy has a one year low of C$0.60 and a one year 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 posted its quarterly earnings results on Wednesday, May 1st. The company reported C$0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.02 by C($0.01). Gear Energy had a return on equity of 3.81% and a net margin of 7.00%. The company had revenue of C$35.67 million during the quarter, compared to the consensus estimate of C$36.70 million. Equities analysts expect that Gear Energy will post 0.1099554 EPS for the current fiscal year.

Insider Transactions at Gear Energy

In other Gear Energy news, Director Kevin David Johnson bought 192,900 shares of Gear Energy stock in a transaction on Thursday, May 9th. The shares were purchased at an average cost of C$0.78 per share, for a total transaction of C$150,462.00. In other news, Director Don Gray purchased 294,500 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were bought at an average cost of C$0.77 per share, for a total transaction of C$226,765.00. Also, Director Kevin David Johnson purchased 192,900 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was purchased at an average price of C$0.78 per share, for a total transaction of C$150,462.00. Insiders have purchased 1,218,900 shares of company stock worth $910,442 in the last three months. Insiders own 7.57% of the company’s stock.

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.