Insider Buying: Gear Energy Ltd. (TSE:GXE) Director Buys 705,500 Shares of Stock

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

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

• 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 Stock Performance

Gear Energy stock opened at C$0.76 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 0.56 and a debt-to-equity ratio of 9.40. Gear Energy Ltd. has a 1-year low of C$0.60 and a 1-year high of C$1.04. The firm has a market capitalization of C$198.85 million, a PE ratio of 25.17 and a beta of 3.73. The firm’s 50 day simple moving average is C$0.67 and its 200 day simple moving average is C$0.68.

Gear Energy (TSE:GXE) last posted its quarterly earnings data on Wednesday, February 21st. The company reported C($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.02 by C($0.05). Gear Energy had a return on equity of 3.81% and a net margin of 7.00%. The company had revenue of C$37.52 million for the quarter. As a group, analysts expect that Gear Energy Ltd. will post 0.1199324 earnings per share for the current fiscal year.

Gear Energy Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.005 per share. This represents a $0.06 annualized dividend and a dividend yield of 7.95%. The ex-dividend date is Tuesday, May 14th. Gear Energy’s dividend payout ratio (DPR) is presently 200.00%.

Analyst Upgrades and Downgrades

Separately, ATB Capital lowered 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 report on Thursday, January 18th.

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.