Gear Energy Ltd. to Issue Monthly Dividend of $0.01 (TSE:GXE)

Gear Energy Ltd. (TSE:GXE) declared a monthly dividend on Wednesday, May 1st, Zacks reports. Investors of record on Wednesday, May 15th will be paid a dividend of 0.005 per share on Friday, May 31st. This represents a $0.06 annualized dividend and a dividend yield of 8.11%. The ex-dividend date is Tuesday, May 14th.

Gear Energy Trading Up 4.2 %

Gear Energy stock traded up C$0.03 during mid-day trading on Thursday, reaching C$0.74. 336,898 shares of the company traded hands, compared to its average volume of 379,416. The company has a debt-to-equity ratio of 9.40, a current ratio of 1.10 and a quick ratio of 0.56. The firm’s 50 day moving average price is C$0.67 and its 200 day moving average price is C$0.68. The firm has a market capitalization of C$194.90 million, a price-to-earnings ratio of 24.67 and a beta of 3.73. Gear Energy has a 52-week low of C$0.60 and a 52-week high of C$1.04.

Gear Energy (TSE:GXE) last announced its earnings results on Wednesday, February 21st. The company reported C($0.03) EPS for the quarter, missing analysts’ consensus estimates of C$0.02 by C($0.05). Gear Energy had a net margin of 7.00% and a return on equity of 3.81%. The business had revenue of C$37.52 million for the quarter. On average, analysts anticipate that Gear Energy will post 0.1199324 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, ATB Capital dropped their price target on shares of Gear Energy from C$1.25 to C$1.00 and set an “outperform” rating on the stock in a report on Thursday, January 18th.

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.