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

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

Gear Energy Trading Down 2.0 %

TSE GXE opened at C$0.50 on Wednesday. The business has a 50 day moving average price of C$0.51 and a 200-day moving average price of C$0.58. Gear Energy Ltd. has a 52 week low of C$0.45 and a 52 week high of C$0.80. The company has a market cap of C$131.79 million, a price-to-earnings ratio of 10.00 and a beta of 3.52. The company has a quick ratio of 0.56, a current ratio of 0.95 and a debt-to-equity ratio of 6.26.

Gear Energy (TSE:GXE) last announced its quarterly earnings results on Thursday, November 7th. The company reported C$0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.04 by C($0.01). Gear Energy had a return on equity of 5.36% and a net margin of 9.65%. The company had revenue of C$38.82 million for the quarter, compared to the consensus estimate of C$38.70 million. As a group, equities analysts expect that Gear Energy Ltd. will post 0.1399549 earnings per share for the current fiscal year.

Gear Energy Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were issued a dividend of $0.005 per share. The ex-dividend date was Monday, December 16th. This represents a $0.06 annualized dividend and a yield of 12.00%. Gear Energy’s dividend payout ratio (DPR) is currently 120.00%.

Wall Street Analyst Weigh In

Separately, Atb Cap Markets downgraded 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.