Gear Energy (TSE:GXE) Hits New 12-Month Low – Here’s What Happened

Gear Energy Ltd. (TSE:GXE) shares reached a new 52-week low on Monday . The company traded as low as C$0.47 and last traded at C$0.48, with a volume of 508418 shares traded. The stock had previously closed at C$0.49.

Wall Street Analysts Forecast Growth

Separately, Atb Cap Markets cut shares of Gear Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 15th.

Gear Energy Price Performance

The company has a current ratio of 0.95, a quick ratio of 0.56 and a debt-to-equity ratio of 6.26. The business has a 50-day moving average of C$0.54 and a 200 day moving average of C$0.62. The firm has a market capitalization of C$118.61 million, a PE ratio of 9.00 and a beta of 3.52.

Gear Energy (TSE:GXE) last announced its earnings results on Thursday, November 7th. The company reported C$0.03 EPS for the quarter, missing the consensus estimate of C$0.04 by C($0.01). Gear Energy had a net margin of 9.65% and a return on equity of 5.36%. The firm had revenue of C$38.82 million during the quarter, compared to analysts’ expectations of C$38.70 million. As a group, research analysts anticipate that Gear Energy Ltd. will post 0.1399549 EPS for the current fiscal year.

Gear Energy Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.005 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.06 annualized dividend and a dividend yield of 13.33%. Gear Energy’s dividend payout ratio is currently 120.00%.

Insider Transactions at Gear Energy

In related news, Director Scott Robinson purchased 74,000 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were bought at an average cost of C$0.59 per share, with a total value of C$43,978.20. Company insiders own 7.62% of the company’s stock.

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.