Bindu Wyma Sells 14,900 Shares of Gear Energy Ltd. (TSE:GXE) Stock

Gear Energy Ltd. (TSE:GXEGet Rating) Director Bindu Wyma sold 14,900 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of C$1.34, for a total transaction of C$19,891.50. Following the transaction, the director now directly owns 32,000 shares of the company’s stock, valued at approximately C$42,720.

Gear Energy Price Performance

GXE stock opened at C$1.25 on Friday. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.13 and a quick ratio of 0.74. Gear Energy Ltd. has a one year low of C$0.65 and a one year high of C$1.94. The stock has a market cap of C$322.72 million and a PE ratio of 2.91. The firm has a 50 day simple moving average of C$1.24 and a two-hundred day simple moving average of C$1.41.

Gear Energy (TSE:GXEGet Rating) last released its quarterly earnings results on Wednesday, July 27th. The company reported C$0.09 EPS for the quarter, topping analysts’ consensus estimates of C$0.07 by C$0.02. The company had revenue of C$57.64 million during the quarter. On average, analysts predict that Gear Energy Ltd. will post 0.25 EPS for the current fiscal year.

Gear Energy Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 30th will be paid a $0.01 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $0.12 dividend on an annualized basis and a yield of 9.60%. Gear Energy’s dividend payout ratio is presently 2.33%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Stifel Nicolaus reduced their price objective on shares of Gear Energy from C$1.75 to C$1.55 in a research note on Wednesday, August 3rd. Stifel Firstegy raised shares of Gear Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, August 2nd.

About Gear Energy

(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.

Further Reading

Insider Buying and Selling by Quarter for Gear Energy (TSE:GXE)

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