Gear Energy (TSE:GXE) Reaches New 52-Week Low at $0.57

Gear Energy Ltd. (TSE:GXE) shares reached a new 52-week low on Thursday . The company traded as low as C$0.57 and last traded at C$0.59, with a volume of 549049 shares traded. The stock had previously closed at C$0.60.

Gear Energy Stock Down 5.0 %

The stock has a market capitalization of C$150.24 million, a PE ratio of 12.00 and a beta of 3.56. 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 firm has a 50 day moving average of C$0.66 and a two-hundred day moving average of C$0.68.

Gear Energy (TSE:GXE) last posted its earnings results on Wednesday, July 31st. The company reported C$0.04 earnings per share for the quarter, meeting the consensus estimate of C$0.04. The firm had revenue of C$40.76 million during the quarter, compared to the consensus estimate of C$40.20 million. Gear Energy had a net margin of 9.65% and a return on equity of 5.36%. Equities research analysts anticipate that Gear Energy Ltd. will post 0.1399549 earnings per share for the current year.

Gear Energy Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.005 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.06 annualized dividend and a dividend yield of 10.53%. Gear Energy’s dividend payout ratio is currently 120.00%.

Insider Activity at Gear Energy

In other Gear Energy news, Senior Officer Bryan Dozzi sold 100,000 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of C$0.71, for a total transaction of C$71,000.00. 7.57% of the stock is owned by corporate insiders.

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.