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

Gear Energy Ltd. (TSE:GXE) announced a monthly dividend on Wednesday, May 1st, Zacks reports. Investors of record on Wednesday, May 15th will be paid a dividend of 0.005 per share on Friday, May 31st. This represents a $0.06 annualized dividend and a yield of 8.11%. The ex-dividend date of this dividend is Tuesday, May 14th.

Gear Energy Trading Up 4.2 %

GXE stock traded up C$0.03 during trading on Thursday, hitting C$0.74. 122,398 shares of the company traded hands, compared to its average volume of 381,216. Gear Energy has a 1 year low of C$0.60 and a 1 year high of C$1.05. The firm has a market capitalization of C$194.90 million, a PE ratio of 23.67 and a beta of 3.73. The company has a 50-day moving average of C$0.67 and a 200-day moving average of C$0.68. The company has a debt-to-equity ratio of 9.40, a quick ratio of 0.56 and a current ratio of 1.10.

Gear Energy (TSE:GXE) last posted its quarterly earnings results on Wednesday, February 21st. The company reported C($0.03) earnings per share for the quarter, missing the consensus estimate of C$0.02 by C($0.05). Gear Energy had a return on equity of 3.81% and a net margin of 7.00%. The business had revenue of C$37.52 million during the quarter. Analysts predict that Gear Energy will post 0.1199324 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, ATB Capital decreased their price target on Gear Energy from C$1.25 to C$1.00 and set an “outperform” rating for the company in a research note on Thursday, January 18th.

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.