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

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

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

• On Friday, May 3rd, Don Gray bought 705,500 shares of Gear Energy stock. The stock was purchased at an average price 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 stock was 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 opened at C$0.78 on Thursday. The company has a market cap of C$205.44 million, a price-to-earnings ratio of 26.00 and a beta of 3.73. The company has a current ratio of 1.10, a quick ratio of 0.56 and a debt-to-equity ratio of 9.40. The company’s fifty day simple moving average is C$0.67 and its 200 day simple moving average is C$0.68. Gear Energy Ltd. has a 1-year low of C$0.60 and a 1-year high of C$1.04.

Gear Energy (TSE:GXE) last posted its quarterly earnings results on Wednesday, February 21st. The company reported C($0.03) EPS for the quarter, missing analysts’ consensus estimates of C$0.02 by C($0.05). The business had revenue of C$37.52 million for the quarter. Gear Energy had a return on equity of 3.81% and a net margin of 7.00%. On average, research analysts forecast that Gear Energy Ltd. will post 0.1199324 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, May 31st. Investors of record on Friday, May 31st will be paid 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 yield of 7.69%. Gear Energy’s dividend payout ratio (DPR) is currently 200.00%.

Analysts Set New Price Targets

Separately, ATB Capital reduced their price objective 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.

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.