Gear Energy (TSE:GXE) Reaches New 1-Year Low – What’s Next?

Gear Energy Ltd. (TSE:GXE)’s stock price hit a new 52-week low on Monday . The company traded as low as C$0.51 and last traded at C$0.51, with a volume of 1798535 shares traded. The stock had previously closed at C$0.54.

Wall Street Analyst Weigh In

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

Gear Energy Stock Performance

The company has a market cap of C$130.47 million, a P/E ratio of 10.00 and a beta of 3.52. The company has a quick ratio of 0.56, a current ratio of 0.95 and a debt-to-equity ratio of 6.26. The business has a fifty day simple moving average of C$0.56 and a two-hundred day simple moving average of C$0.63.

Gear Energy (TSE:GXE) last issued its quarterly earnings results on Thursday, November 7th. The company reported C$0.03 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of C$38.82 million during 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 EPS for the current year.

Gear Energy Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 29th were given a dividend of $0.005 per share. This represents a $0.06 annualized dividend and a dividend yield of 12.12%. The ex-dividend date of this dividend was Friday, November 15th. Gear Energy’s payout ratio is currently 120.00%.

Insider Buying and Selling at Gear Energy

In other Gear Energy news, Director Scott Robinson bought 74,000 shares of Gear Energy stock in a transaction dated Thursday, October 3rd. The shares were purchased at an average cost of C$0.59 per share, for a total transaction of C$43,978.20. 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.