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

Gear Energy Ltd. (TSE:GXE) declared a monthly dividend on Wednesday, July 31st, Zacks reports. Investors of record on Thursday, August 15th will be given a dividend of 0.005 per share on Friday, August 30th. This represents a $0.06 annualized dividend and a dividend yield of 9.09%. The ex-dividend date of this dividend is Thursday, August 15th.

Gear Energy Stock Performance

GXE traded down C$0.03 on Friday, reaching C$0.66. 99,261 shares of the stock were exchanged, compared to its average volume of 395,082. The company has a debt-to-equity ratio of 9.40, a current ratio of 1.10 and a quick ratio of 0.56. The company’s 50-day moving average price is C$0.70 and its 200 day moving average price is C$0.68. Gear Energy has a fifty-two week low of C$0.60 and a fifty-two week high of C$0.91. The firm has a market capitalization of C$173.83 million, a PE ratio of 22.33 and a beta of 3.69.

Gear Energy (TSE:GXE) last released its quarterly earnings data on Wednesday, May 1st. The company reported C$0.01 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.02 by C($0.01). Gear Energy had a net margin of 7.00% and a return on equity of 3.81%. The firm had revenue of C$35.67 million during the quarter, compared to analysts’ expectations of C$36.70 million. As a group, sell-side analysts forecast that Gear Energy will post 0.1099554 EPS for the current fiscal year.

Insider Buying and Selling at Gear Energy

In other news, Director Kevin David Johnson bought 192,900 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were purchased at an average price of C$0.78 per share, with a total value of C$150,462.00. In related news, Director Kevin David Johnson purchased 192,900 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were bought at an average cost of C$0.78 per share, for a total transaction of C$150,462.00. Also, Director Don Gray purchased 294,500 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were purchased at an average price of C$0.77 per share, for a total transaction of C$226,765.00. 7.57% of the stock is currently owned by company insiders.

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.