Gear Energy Ltd. (TSE:GXE) Director Buys C$226,765.00 in Stock

Gear Energy Ltd. (TSE:GXE) Director Don Gray bought 294,500 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was purchased at an average price of C$0.77 per share, with a total value of C$226,765.00.

Don Gray also recently made the following trade(s):

• On Friday, May 3rd, Don Gray purchased 705,500 shares of Gear Energy stock. The stock was acquired at an average cost of C$0.73 per share, for a total transaction of C$515,015.00.
• On Monday, March 11th, Don Gray sold 32,000 shares of Gear Energy stock. The shares were sold at an average price of C$0.66, for a total transaction of C$21,120.00.

Gear Energy Price Performance

Shares of GXE traded up C$0.02 during trading hours on Wednesday, hitting C$0.78. The stock had a trading volume of 1,204,259 shares, compared to its average volume of 404,686. The stock has a market capitalization of C$205.44 million, a price-to-earnings ratio of 25.17 and a beta of 3.73. Gear Energy Ltd. has a 52 week low of C$0.60 and a 52 week high of C$1.04. 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 fifty day moving average is C$0.67 and its two-hundred day moving average is C$0.68.

Gear Energy (TSE:GXE) last posted its earnings results on Wednesday, February 21st. The company reported C($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.02 by C($0.05). Gear Energy had a net margin of 7.00% and a return on equity of 3.81%. The firm had revenue of C$37.52 million during the quarter. On average, analysts anticipate that Gear Energy Ltd. will post 0.1199324 EPS for the current year.

Gear Energy Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 31st will be issued a $0.005 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 7.69%. Gear Energy’s dividend payout ratio is 200.00%.

Wall Street Analyst Weigh In

Separately, ATB Capital cut their price target on shares of Gear Energy from C$1.25 to C$1.00 and set an “outperform” rating for the company in a research note on Thursday, January 18th.

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.