Gear Energy Ltd. (TSE:GXE) Director Kevin David Johnson Purchases 26,000 Shares

Gear Energy Ltd. (TSE:GXE) Director Kevin David Johnson bought 26,000 shares of Gear Energy stock in a transaction dated Friday, April 12th. The stock was purchased at an average price of C$0.70 per share, with a total value of C$18,200.00.

Gear Energy Price Performance

Shares of TSE:GXE opened at C$0.68 on Friday. The company’s 50-day moving average is C$0.66 and its 200 day moving average is C$0.70. The company has a debt-to-equity ratio of 8.94, a quick ratio of 0.56 and a current ratio of 1.04. The company has a market capitalization of C$178.33 million, a P/E ratio of 22.67 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$1.14.

Gear Energy (TSE:GXE) last issued 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). The company had revenue of C$37.52 million during the quarter. Gear Energy had a return on equity of 3.52% and a net margin of 6.61%. On average, equities research analysts forecast that Gear Energy Ltd. will post 0.1200686 earnings per share for the current year.

Gear Energy Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be issued a $0.005 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 8.82%. The ex-dividend date of this dividend is Friday, April 12th. Gear Energy’s payout ratio is 200.00%.

Wall Street Analysts Forecast Growth

Separately, ATB Capital reduced their target price 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.

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 focused operations on Lloydminster heavy oil, Central Alberta light/medium oil, and Southeast Saskatchewan light oil areas.