Gear Energy Ltd. (TSE:GXE) Director Don Gray Acquires 705,500 Shares of Stock

Gear Energy Ltd. (TSE:GXE) Director Don Gray purchased 705,500 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were bought at an average cost of C$0.73 per share, for a total transaction of C$515,015.00.

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

• 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 value of C$21,120.00.

Gear Energy Trading Up 4.2 %

GXE opened at C$0.75 on Tuesday. 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 market cap of C$197.54 million, a price-to-earnings ratio of 25.00 and a beta of 3.73. 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 firm has a 50 day simple moving average of C$0.67 and a 200 day simple moving average of C$0.68.

Gear Energy (TSE:GXE) last issued 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 net margin of 7.00% and a return on equity of 3.81%. The business had revenue of C$37.52 million for the quarter. On average, sell-side analysts anticipate that Gear Energy Ltd. will post 0.1199324 earnings per share for the current year.

Gear Energy Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.005 per share. This represents a $0.06 dividend on an annualized basis and a yield of 8.00%. The ex-dividend date of this dividend is Tuesday, May 14th. Gear Energy’s dividend payout ratio (DPR) is currently 200.00%.

Wall Street Analyst Weigh In

Separately, ATB Capital decreased their price target on Gear Energy from C$1.25 to C$1.00 and set an “outperform” rating on the stock in a report 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.