Gear Energy (TSE:GXE) Hits New 12-Month Low at $0.60

Posted by William Tyler on Sep 12th, 2024

Gear Energy Ltd. (TSE:GXE – Get Free Report) shares reached a new 52-week low during trading on Monday . The company traded as low as C$0.60 and last traded at C$0.60, with a volume of 237146 shares traded. The stock had previously closed at C$0.62.

Gear Energy Stock Down 1.7 %

The firm’s 50-day simple moving average is C$0.69 and its 200 day simple moving average is C$0.69. The company has a debt-to-equity ratio of 6.26, a quick ratio of 0.56 and a current ratio of 0.95. The company has a market cap of C$155.51 million, a P/E ratio of 11.80 and a beta of 3.56.

Gear Energy (TSE:GXE – Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported C$0.04 EPS for the quarter, meeting analysts’ consensus estimates of C$0.04. Gear Energy had a return on equity of 5.36% and a net margin of 9.65%. On average, research analysts forecast 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 will be paid on Friday, September 27th. Stockholders of record on Friday, September 27th will be paid a $0.005 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 10.17%. Gear Energy’s dividend payout ratio (DPR) is presently 120.00%.

Insider Activity at Gear Energy

In related news, Senior Officer Bryan Dozzi sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of C$0.71, for a total transaction of C$71,000.00. 7.57% of the stock is currently owned by corporate insiders.

About Gear Energy

(Get Free Report)

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.