Gear Energy Ltd. (TSE:GXE) Announces 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 given 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 Trading Down 3.9 %

Shares of Gear Energy stock traded down C$0.02 during mid-day trading on Friday, hitting C$0.49. 788,500 shares of the stock were exchanged, 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 company has a 50-day simple moving average of C$0.55 and a 200 day simple moving average of C$0.63. The company has a current ratio of 0.95, a quick ratio of 0.56 and a debt-to-equity ratio of 6.26. The stock 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 announced its quarterly earnings results on Thursday, November 7th. The company reported C$0.03 EPS for the quarter, missing the consensus estimate of C$0.04 by C($0.01). Gear Energy had a return on equity of 5.36% and a net margin of 9.65%. The firm had revenue of C$38.82 million for the quarter, compared to analyst estimates of C$38.70 million. Research analysts forecast that Gear Energy will post 0.1399549 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Gear Energy news, Director Scott Robinson purchased 74,000 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was bought at an average cost 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.