Insider Buying: Gear Energy Ltd. (TSE:GXE) Director Purchases C$515,015.00 in Stock

Gear Energy Ltd. (TSE:GXE) Director Don Gray purchased 705,500 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average cost of C$0.73 per share, with a total value of C$515,015.00.

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

• On Monday, May 6th, Don Gray purchased 294,500 shares of Gear Energy stock. The stock was acquired at an average cost of C$0.77 per share, with a total value of C$226,765.00.
• 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 value of C$21,120.00.

Gear Energy Price Performance

GXE opened at C$0.78 on Thursday. The company has a fifty day moving average price of C$0.67 and a two-hundred day moving average price of C$0.68. The company has a debt-to-equity ratio of 9.40, a quick ratio of 0.56 and a current ratio of 1.10. The firm has a market capitalization of C$205.44 million, a PE ratio of 26.00 and a beta of 3.73. Gear Energy Ltd. has a 52 week low of C$0.60 and a 52 week high of C$1.04.

Gear Energy (TSE:GXE) last released its quarterly earnings data on Wednesday, February 21st. The company reported C($0.03) EPS 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 company had revenue of C$37.52 million during the quarter. As a group, analysts anticipate that Gear Energy Ltd. will post 0.1199324 earnings per share for the current year.

Gear Energy Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 31st will be given a $0.005 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 7.69%. Gear Energy’s dividend payout ratio is 200.00%.

Wall Street Analyst Weigh In

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 on the stock in a research note 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.