Insider Buying: Gear Energy Ltd. (TSE:GXE) Director Buys 192,900 Shares of Stock

Gear Energy Ltd. (TSE:GXE) Director Kevin David Johnson acquired 192,900 shares of Gear Energy stock in a transaction dated Thursday, May 9th. The shares were bought at an average price of C$0.78 per share, with a total value of C$150,462.00.

Kevin David Johnson also recently made the following trade(s):

• On Friday, April 12th, Kevin David Johnson purchased 26,000 shares of Gear Energy stock. The shares were bought at an average price of C$0.70 per share, for a total transaction of C$18,200.00.

Gear Energy Stock Performance

TSE GXE traded up C$0.01 during trading hours on Friday, hitting C$0.78. 91,861 shares of the stock were exchanged, compared to its average volume of 424,617. The company has a market cap of C$205.44 million, a price-to-earnings ratio of 25.67 and a beta of 3.73. The stock has a 50-day moving average of C$0.68 and a 200 day moving average of C$0.68. Gear Energy Ltd. has a 12-month low of C$0.60 and a 12-month high of C$1.04. The company has a quick ratio of 0.56, a current ratio of 1.10 and a debt-to-equity ratio of 9.40.

Gear Energy (TSE:GXE) last posted its earnings results on Wednesday, February 21st. The company reported C($0.03) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of C$37.52 million for the quarter. As a group, equities research analysts forecast that Gear Energy Ltd. will post 0.1199324 earnings per share for the current year.

Gear Energy Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.005 per share. The ex-dividend date is Tuesday, May 14th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 7.69%. Gear Energy’s dividend payout ratio (DPR) is presently 200.00%.

Analyst Ratings Changes

Separately, ATB Capital reduced their price objective 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.