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

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

Gear Energy Price Performance

Shares of Gear Energy stock remained flat at C$0.48 during trading hours on Tuesday. 186,453 shares of the stock traded hands, compared to its average volume of 524,795. The firm has a fifty day moving average price of C$0.53 and a two-hundred day moving average price of C$0.62. The firm has a market cap of C$125.20 million, a P/E ratio of 9.50 and a beta of 3.52. 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 released its quarterly earnings results on Thursday, November 7th. The company reported C$0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.04 by C($0.01). Gear Energy had a return on equity of 5.36% and a net margin of 9.65%. The firm had revenue of C$38.82 million for the quarter, compared to analysts’ expectations of C$38.70 million. On average, sell-side analysts anticipate that Gear Energy Ltd. will post 0.1399549 earnings per share for the current fiscal year.

Gear Energy Dividend Announcement

The business 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 $0.005 dividend. This represents a $0.06 annualized dividend and a yield of 12.63%. The ex-dividend date of this dividend is Monday, December 16th. Gear Energy’s dividend payout ratio is presently 120.00%.

Analysts Set New Price Targets

Separately, Atb Cap Markets cut shares of Gear Energy from a “strong-buy” rating to a “hold” rating in a research note 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.