Insider Buying: Gear Energy Ltd. (TSE:GXE) Director Purchases 192,900 Shares of Stock

Gear Energy Ltd. (TSE:GXE) Director Kevin David Johnson purchased 192,900 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were purchased at an average price of C$0.78 per share, for a total transaction of C$150,462.00.

Kevin David Johnson also recently made the following trade(s):

• On Friday, April 12th, Kevin David Johnson bought 26,000 shares of Gear Energy stock. The shares were purchased at an average cost of C$0.70 per share, with a total value of C$18,200.00.

Gear Energy Stock Performance

TSE GXE traded down C$0.01 on Thursday, reaching C$0.77. 1,335,071 shares of the company’s stock traded hands, compared to its average volume of 428,408. The stock has a 50 day moving average price of C$0.67 and a 200-day moving average price of C$0.68. The firm has a market cap of C$202.80 million, a price-to-earnings ratio of 26.00 and a beta of 3.73. Gear Energy Ltd. has a fifty-two week low of C$0.60 and a fifty-two week high of C$1.04. The company has a debt-to-equity ratio of 9.40, a quick ratio of 0.56 and a current ratio of 1.10.

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

Gear Energy Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be paid a $0.005 dividend. This represents a $0.06 annualized dividend and a dividend yield of 7.79%. The ex-dividend date of this dividend is Tuesday, May 14th. Gear Energy’s dividend payout ratio is currently 200.00%.

Wall Street Analysts Forecast Growth

Separately, ATB Capital reduced 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 report 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.