Insider Buying: Gear Energy Ltd. (TSE:GXE) Senior Officer Buys 157,500 Shares of Stock

Gear Energy Ltd. (TSE:GXE) Senior Officer Stephen Power purchased 157,500 shares of the stock in a transaction dated Friday, December 27th. The stock was acquired at an average cost of C$0.49 per share, for a total transaction of C$76,387.50.

Gear Energy Stock Performance

Shares of GXE traded up C$0.01 on Friday, reaching C$0.49. 913,486 shares of the stock traded hands, compared to its average volume of 526,410. The stock’s 50-day moving average price is C$0.52 and its 200-day moving average price is C$0.61. The company has a debt-to-equity ratio of 6.26, a current ratio of 0.95 and a quick ratio of 0.56. The firm has a market cap of C$127.84 million, a price-to-earnings ratio of 9.70 and a beta of 3.52. Gear Energy Ltd. has a 12 month low of C$0.45 and a 12 month 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of C$38.70 million. Equities analysts forecast that Gear Energy Ltd. will post 0.1399549 EPS for the current fiscal year.

Gear Energy Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.005 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.06 annualized dividend and a dividend yield of 12.37%. Gear Energy’s dividend payout ratio is presently 120.00%.

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 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.