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

Gear Energy Ltd. (TSE:GXE) announced a monthly dividend on Friday, November 1st, Zacks reports. Investors of record on Friday, November 15th will be given a dividend of 0.005 per share on Friday, November 29th. This represents a $0.06 annualized dividend and a yield of 11.54%. The ex-dividend date is Friday, November 15th.

Gear Energy Price Performance

GXE opened at C$0.52 on Friday. The firm has a market cap of C$137.06 million, a price-to-earnings ratio of 10.40 and a beta of 3.52. Gear Energy has a fifty-two week low of C$0.52 and a fifty-two week high of C$0.83. The company’s 50-day moving average price is C$0.60 and its 200 day moving average price is C$0.67. 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 data on Wednesday, July 31st. The company reported C$0.04 earnings per share for the quarter, hitting the consensus estimate of C$0.04. The firm had revenue of C$40.76 million for the quarter, compared to analyst estimates of C$40.20 million. Gear Energy had a net margin of 9.65% and a return on equity of 5.36%. As a group, sell-side analysts expect that Gear Energy will post 0.1399549 earnings per share for the current year.

Analyst Upgrades and Downgrades

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.

Insiders Place Their Bets

In other news, Director Scott Robinson bought 74,000 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was purchased at an average price of C$0.59 per share, for a total transaction of C$43,978.20. 7.62% of the stock is owned by insiders.

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.