Gear Energy (TSE:GXE) Reaches New 52-Week Low – Should You Sell?

by · The Markets Daily

Gear Energy Ltd. (TSE:GXE – Get Free Report) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as C$0.53 and last traded at C$0.53, with a volume of 321178 shares changing hands. The stock had previously closed at C$0.53.

Analysts Set New Price Targets

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

Check Out Our Latest Research Report on GXE

Gear Energy Stock Performance

The company has a 50 day moving average price of C$0.61 and a 200-day moving average price of C$0.67. 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 company has a market cap of C$139.70 million, a P/E ratio of 10.60 and a beta of 3.52.

Gear Energy (TSE:GXE – Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported C$0.04 earnings per share for the quarter, meeting the consensus estimate of C$0.04. Gear Energy had a return on equity of 5.36% and a net margin of 9.65%. The company had revenue of C$40.76 million for the quarter, compared to the consensus estimate of C$40.20 million. On average, equities analysts expect that Gear Energy Ltd. will post 0.1399549 earnings per share for the current fiscal year.

Gear Energy Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be issued a dividend of $0.005 per share. This represents a $0.06 annualized dividend and a yield of 11.32%. The ex-dividend date is Tuesday, October 15th. Gear Energy’s payout ratio is presently 120.00%.

Insiders Place Their Bets

In related news, Director Scott Robinson bought 74,000 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were purchased at an average cost of C$0.59 per share, with a total value of C$43,978.20. Company insiders own 7.62% of the company’s stock.

About Gear Energy

(Get Free Report)

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.

Featured Articles