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

Gear Energy Ltd. (TSE:GXE) announced a monthly dividend on Monday, December 16th,TickerTech Dividends reports. Stockholders 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 annualized dividend and a dividend yield of 12.24%. The ex-dividend date of this dividend is Monday, December 16th.

Gear Energy Price Performance

GXE traded down C$0.02 during trading on Friday, reaching C$0.49. 788,500 shares of the stock were exchanged, compared to its average volume of 512,673. Gear Energy has a 1 year low of C$0.48 and a 1 year high of C$0.80. The company has a market capitalization of C$129.15 million, a price-to-earnings ratio of 9.80 and a beta of 3.52. The business’s 50 day moving average price is C$0.55 and its two-hundred day moving average price 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.

Gear Energy (TSE:GXE) last issued its quarterly earnings data on Thursday, November 7th. The company reported C$0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.04 by C($0.01). Gear Energy had a net margin of 9.65% and a return on equity of 5.36%. The company had revenue of C$38.82 million during the quarter, compared to analysts’ expectations of C$38.70 million. As a group, equities research analysts anticipate that Gear Energy will post 0.1399549 earnings per share for the current year.

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 report on Tuesday, October 15th.

Insider Activity

In other news, Director Scott Robinson purchased 74,000 shares of the company’s stock in a transaction on 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. Corporate insiders own 7.62% of the company’s stock.

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.