Insider Buying: Gear Energy Ltd. (TSE:GXE) Director Buys 333,000 Shares of Stock

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

Gear Energy Price Performance

Shares of GXE stock opened at C$0.48 on Wednesday. The stock has a 50 day moving average price of C$0.53 and a 200 day moving average price 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 debt-to-equity ratio of 6.26, a quick ratio of 0.56 and a current ratio of 0.95. The firm has a market capitalization of C$125.20 million, a P/E ratio of 9.50 and a beta of 3.52.

Gear Energy (TSE:GXE) last released its earnings results on Thursday, November 7th. The company reported C$0.03 earnings per share for the quarter, missing the consensus estimate of C$0.04 by C($0.01). The business had revenue of C$38.82 million for the quarter, compared to the consensus estimate of C$38.70 million. Gear Energy had a return on equity of 5.36% and a net margin of 9.65%. As a group, sell-side analysts predict that Gear Energy Ltd. will post 0.1399549 earnings per share for the current year.

Gear Energy Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st will be given a $0.005 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.06 annualized dividend and a yield of 12.63%. Gear Energy’s dividend payout ratio (DPR) is 120.00%.

Analyst Upgrades and Downgrades

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

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's oil properties are located in Central Alberta, West Central Saskatchewan, and Southeast Saskatchewan.