Gear Energy (TSE:GXE) Reaches New 52-Week Low – Should You Sell?

Gear Energy Ltd. (TSE:GXE)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as C$0.53 and last traded at C$0.53, with a volume of 321178 shares trading hands. The stock had previously closed at C$0.53.

Analyst Upgrades and Downgrades

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

Gear Energy Price Performance

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 business has a fifty day simple moving average of C$0.61 and a 200 day simple moving average of C$0.67. The stock has a market capitalization of C$139.70 million, a P/E ratio of 10.60 and a beta of 3.52.

Gear Energy (TSE:GXE) last issued its quarterly earnings data on Wednesday, July 31st. The company reported C$0.04 EPS for the quarter, hitting analysts’ consensus estimates of C$0.04. The firm had revenue of C$40.76 million during the quarter, compared to analyst estimates of C$40.20 million. Gear Energy had a return on equity of 5.36% and a net margin of 9.65%. On average, analysts expect that Gear Energy Ltd. will post 0.1399549 earnings per share for the current year.

Gear Energy Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be paid a $0.005 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 11.32%. Gear Energy’s payout ratio is presently 120.00%.

Insider Transactions at Gear Energy

In other Gear Energy news, Director Scott Robinson bought 74,000 shares of the business’s stock in a transaction dated Thursday, October 3rd. The shares were purchased at an average price of C$0.59 per share, for a total transaction of C$43,978.20. Company insiders own 7.62% of the company’s stock.

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.