Gear Energy (TSE:GXE) Hits New 12-Month Low – Should You Sell?

Gear Energy Ltd. (TSE:GXE)’s stock price hit a new 52-week low on Wednesday . The company traded as low as C$0.57 and last traded at C$0.58, with a volume of 273680 shares trading hands. The stock had previously closed at C$0.60.

Wall Street Analysts Forecast Growth

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

Gear Energy Stock Down 3.4 %

The firm’s fifty day moving average price is C$0.62 and its 200-day moving average price is C$0.67. The company has a market cap of C$147.60 million, a price-to-earnings ratio of 11.60 and a beta of 3.52. The company has a current ratio of 0.95, a quick ratio of 0.56 and a debt-to-equity ratio of 6.26.

Gear Energy (TSE:GXE) last issued its quarterly earnings data on Wednesday, July 31st. The company reported C$0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of C$0.04. The business had revenue of C$40.76 million during the quarter, compared to analyst estimates of C$40.20 million. Gear Energy had a return on equity of 5.36% and a net margin of 9.65%. Sell-side analysts predict that Gear Energy Ltd. will post 0.1399549 earnings per share for the current year.

Gear Energy Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be issued a dividend of $0.005 per share. The ex-dividend date is Tuesday, October 15th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 10.71%. Gear Energy’s payout ratio is presently 120.00%.

Insiders Place Their Bets

In other Gear Energy news, Director Scott Robinson acquired 74,000 shares of Gear Energy stock in a transaction dated Thursday, October 3rd. The stock was bought at an average cost of C$0.59 per share, for a total transaction of C$43,978.20. Insiders own 7.62% of the company’s stock.

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.