Kevin David Johnson Buys 333,000 Shares of Gear Energy Ltd. (TSE:GXE) Stock

Gear Energy Ltd. (TSE:GXE) Director Kevin David Johnson purchased 333,000 shares of Gear Energy stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average price of C$0.47 per share, for a total transaction of C$156,110.40.

Gear Energy Stock Performance

GXE opened at C$0.48 on Thursday. The stock has a market cap of C$125.20 million, a PE ratio of 9.50 and a beta of 3.52. The business has a 50 day moving average of C$0.53 and a 200-day moving average of C$0.62. Gear Energy Ltd. has a 52 week low of C$0.45 and a 52 week high of C$0.80. The company has a quick ratio of 0.56, a current ratio of 0.95 and a debt-to-equity ratio of 6.26.

Gear Energy (TSE:GXE) last announced its earnings results on Thursday, November 7th. The company reported C$0.03 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of C$38.82 million for the quarter, compared to the consensus estimate of C$38.70 million. Equities research analysts predict that Gear Energy Ltd. will post 0.1399549 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 Tuesday, December 31st. Investors of record on Tuesday, December 31st will be paid a $0.005 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.06 annualized dividend and a dividend yield of 12.63%. Gear Energy’s payout ratio is currently 120.00%.

Analyst Upgrades and Downgrades

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

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.