Gear Energy (TSE:GXE) Reaches New 12-Month Low – Time to Sell?

Gear Energy Ltd. (TSE:GXE)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as C$0.47 and last traded at C$0.48, with a volume of 508418 shares trading hands. The stock had previously closed at C$0.49.

Analyst Upgrades and Downgrades

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

Gear Energy Trading Down 2.0 %

The company has a debt-to-equity ratio of 6.26, a quick ratio of 0.56 and a current ratio of 0.95. The company has a market capitalization of C$126.52 million, a price-to-earnings ratio of 9.60 and a beta of 3.52. The firm has a fifty day moving average price of C$0.55 and a 200-day moving average price of C$0.63.

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

Gear Energy Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.005 per share. The ex-dividend date is Monday, December 16th. This represents a $0.06 annualized dividend and a yield of 12.50%. Gear Energy’s dividend payout ratio is currently 120.00%.

Insider Buying and Selling at Gear Energy

In other news, Director Scott Robinson purchased 74,000 shares of the company’s stock in a transaction dated Thursday, October 3rd. The stock was bought at an average cost of C$0.59 per share, for a total transaction of C$43,978.20. Company 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.