Gear Energy (TSE:GXE) Reaches New 12-Month Low – What’s Next?

Gear Energy Ltd. (TSE:GXE)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as C$0.52 and last traded at C$0.54, with a volume of 693717 shares. The stock had previously closed at C$0.52.

Analyst Upgrades and Downgrades

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

Gear Energy Price Performance

The business has a 50 day moving average of C$0.60 and a 200 day moving average of C$0.67. The company has a market cap of C$137.06 million, a PE ratio of 10.40 and a beta of 3.52. The company has a debt-to-equity ratio of 6.26, a current ratio of 0.95 and a quick ratio of 0.56.

Gear Energy Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.005 per share. This represents a $0.06 annualized dividend and a yield of 11.54%. The ex-dividend date of this dividend is Friday, November 15th. Gear Energy’s dividend payout ratio is currently 120.00%.

Insider Buying and Selling at Gear Energy

In other news, Director Scott Robinson acquired 74,000 shares of the stock in a transaction on Thursday, October 3rd. The stock was acquired at an average price of C$0.59 per share, with a total value 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.