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

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

Gear Energy Stock Performance

Shares of GXE traded down C$0.02 during trading hours on Friday, reaching C$0.49. 788,500 shares of the company’s stock traded hands, compared to its average volume of 512,673. Gear Energy has a twelve month low of C$0.48 and a twelve month high of C$0.80. The business’s fifty day simple moving average is C$0.55 and its two-hundred day simple moving average is C$0.63. The company has a debt-to-equity ratio of 6.26, a current ratio of 0.95 and a quick ratio of 0.56. The firm has a market capitalization of C$129.15 million, a price-to-earnings ratio of 9.80 and a beta of 3.52.

Gear Energy (TSE:GXE) last released 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). 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%. Analysts predict that Gear Energy will post 0.1399549 earnings per share for the current year.

Insider Activity

In other Gear Energy news, Director Scott Robinson purchased 74,000 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were bought 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 currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.