Gear Energy (TSE:GXE) Sets New 1-Year Low – Here’s Why

Gear Energy Ltd. (TSE:GXE) shares reached a new 52-week low on Tuesday . The stock traded as low as C$0.51 and last traded at C$0.52, with a volume of 752157 shares traded. The stock had previously closed at C$0.53.

Wall Street Analyst Weigh In

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

Gear Energy Trading Down 1.9 %

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 stock’s 50 day moving average is C$0.58 and its 200-day moving average is C$0.66. The company has a market cap of C$137.06 million, a PE ratio of 10.40 and a beta of 3.52.

Gear Energy (TSE:GXE) last announced its earnings results on Thursday, November 7th. The company reported C$0.03 earnings per share 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 firm had revenue of C$38.82 million during the quarter, compared to analysts’ expectations of C$38.70 million. As a group, sell-side analysts anticipate that Gear Energy Ltd. will post 0.1399549 EPS for the current year.

Gear Energy Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 29th will be given a $0.005 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.06 annualized dividend and a yield of 11.54%. Gear Energy’s dividend payout ratio (DPR) is 120.00%.

Insider Activity

In other Gear Energy news, Director Scott Robinson acquired 74,000 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were purchased at an average cost of C$0.59 per share, for a total transaction of C$43,978.20. Insiders own 7.62% of the company’s stock.

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.