Don Gray Buys 294,500 Shares of Gear Energy Ltd. (TSE:GXE) Stock

Gear Energy Ltd. (TSE:GXE) Director Don Gray acquired 294,500 shares of Gear Energy 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 bought 705,500 shares of Gear Energy stock. The stock was acquired at an average cost of C$0.73 per share, with a total value 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 Stock Performance

TSE GXE opened at C$0.77 on Friday. The business has a 50 day moving average price of C$0.68 and a 200 day moving average price of C$0.68. The company has a market capitalization of C$202.80 million, a P/E ratio of 25.67 and a beta of 3.73. Gear Energy Ltd. has a 1-year low of C$0.60 and a 1-year 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.

Gear Energy (TSE:GXE) last announced its quarterly earnings results on Wednesday, February 21st. The company reported C($0.03) earnings per share 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. Sell-side analysts expect that Gear Energy Ltd. will post 0.1199324 EPS for the current fiscal year.

Gear Energy Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 31st will be issued a $0.005 dividend. This represents a $0.06 annualized dividend and a dividend yield of 7.79%. The ex-dividend date is Tuesday, May 14th. Gear Energy’s dividend payout ratio (DPR) is presently 200.00%.

Analysts Set New Price Targets

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