FY2023 EPS Estimates for Gear Energy Ltd. (TSE:GXE) Increased by Analyst

Gear Energy Ltd. (TSE:GXEGet Rating) – Stifel Firstegy upped their FY2023 earnings estimates for Gear Energy in a research report issued on Thursday, May 19th. Stifel Firstegy analyst R. Fitzmartyn now forecasts that the company will post earnings of $0.21 per share for the year, up from their prior forecast of $0.19. Stifel Firstegy has a “Hold” rating on the stock.

Separately, Stifel Nicolaus upped their price objective on Gear Energy from C$1.60 to C$1.85 in a research note on Thursday, May 5th.

Shares of GXE opened at C$1.50 on Monday. The company has a debt-to-equity ratio of 13.24, a current ratio of 1.03 and a quick ratio of 0.57. Gear Energy has a 12 month low of C$0.53 and a 12 month high of C$1.94. The stock’s 50-day moving average is C$1.54 and its two-hundred day moving average is C$1.30. The stock has a market cap of C$391.50 million and a PE ratio of 4.84.

In other Gear Energy news, Director Don Gray bought 20,000 shares of the stock in a transaction on Friday, March 11th. The shares were purchased at an average cost of C$1.65 per share, with a total value of C$33,000.00. Following the completion of the transaction, the director now directly owns 9,171,280 shares of the company’s stock, valued at approximately C$15,132,612. Also, Senior Officer Joseph Steve Yvan Chretien purchased 38,985 shares of the stock in a transaction dated Tuesday, April 12th. The stock was acquired at an average cost of C$1.52 per share, for a total transaction of C$59,257.20. Following the completion of the transaction, the insider now owns 415,540 shares of the company’s stock, valued at approximately C$631,620.80.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 30th. Stockholders of record on Monday, May 30th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, May 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.67%. Gear Energy’s dividend payout ratio (DPR) is presently 12.90%.

Gear Energy Company Profile (Get Rating)

Gear Energy Ltd., an exploration and production company, acquires, develops, and holds interests in petroleum and natural gas properties and assets in Canada. Its properties include the Celtic/Paradise Hill property located approximately 40 kilometers northeast of Lloydminster Alberta; the Wildmere field situated approximately 200 kilometers southeast of Edmonton, Alberta; the Wilson Creek property located in Central Alberta; and the Tableland property situated southwest of Estevan in Southeast Saskatchewan.

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