Gear Energy Ltd. (GXE) to Issue Monthly Dividend of $0.01 on July 31st

Gear Energy Ltd. (TSE:GXE) declared a monthly dividend on Tuesday, July 2nd, Zacks reports. Stockholders of record on Monday, July 15th will be given a dividend of 0.005 per share on Wednesday, July 31st. This represents a $0.06 dividend on an annualized basis and a dividend yield of 8.70%. The ex-dividend date is Monday, July 15th.

Gear Energy Stock Performance

Shares of TSE:GXE opened at C$0.69 on Thursday. The company has a current ratio of 1.10, a quick ratio of 0.56 and a debt-to-equity ratio of 9.40. The stock has a market capitalization of C$181.73 million, a PE ratio of 23.00 and a beta of 3.69. Gear Energy has a 1 year low of C$0.60 and a 1 year high of C$1.04. The firm has a fifty day moving average price of C$0.71 and a 200 day moving average price of C$0.67.

Gear Energy (TSE:GXE) last announced its quarterly earnings results on Wednesday, May 1st. The company reported C$0.01 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.02 by C($0.01). The company had revenue of C$35.67 million during the quarter, compared to analyst estimates of C$36.70 million. Gear Energy had a return on equity of 3.81% and a net margin of 7.00%. Analysts expect that Gear Energy will post 0.1099554 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Kevin David Johnson purchased 192,900 shares of the stock in a transaction on Thursday, May 9th. The shares were bought at an average price of C$0.78 per share, for a total transaction of C$150,462.00. In other Gear Energy news, Director Don Gray acquired 294,500 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were acquired at an average cost of C$0.77 per share, for a total transaction of C$226,765.00. Also, Director Kevin David Johnson bought 192,900 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were acquired at an average price of C$0.78 per share, with a total value of C$150,462.00. In the last ninety days, insiders purchased 1,218,900 shares of company stock worth $910,442. 7.57% of the stock is currently owned by insiders.

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.