Gear Energy Ltd. (TSE:GXE) Plans Monthly Dividend of $0.01

Gear Energy Ltd. (TSE:GXE) announced a monthly dividend on Monday, December 16th,TickerTech Dividends reports. Investors of record on Tuesday, December 31st will be given a dividend of 0.005 per share on Tuesday, December 31st. This represents a $0.06 dividend on an annualized basis and a dividend yield of 12.24%. The ex-dividend date of this dividend is Monday, December 16th.

Gear Energy Price Performance

TSE:GXE traded down C$0.02 during trading hours on Friday, reaching C$0.49. 788,500 shares of the company’s stock were exchanged, compared to its average volume of 512,673. 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 company has a market capitalization of C$129.15 million, a P/E ratio of 9.80 and a beta of 3.52. Gear Energy has a 12 month low of C$0.48 and a 12 month high of C$0.80. The business’s 50-day simple moving average is C$0.55 and its two-hundred day simple moving average is C$0.63.

Gear Energy (TSE:GXE) last released its quarterly earnings data 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 company 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%. Sell-side analysts expect that Gear Energy will post 0.1399549 EPS for the current fiscal year.

Analyst Ratings Changes

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

Insiders Place Their Bets

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