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

Gear Energy Ltd. (TSE:GXE - Get Free Report) declared a monthly dividend on Monday, April 1st, Zacks reports. Stockholders of record on Monday, April 15th will be given a dividend of 0.005 per share on Tuesday, April 30th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 8.96%. The ex-dividend date of this dividend is Friday, April 12th.

Gear Energy Stock Up 1.5 %

TSE GXE traded up C$0.01 on Tuesday, hitting C$0.67. 936,947 shares of the stock traded hands, compared to its average volume of 346,765. The stock has a 50-day moving average of C$0.65 and a 200 day moving average of C$0.71. Gear Energy has a twelve month low of C$0.60 and a twelve month high of C$1.15. The company has a market capitalization of C$175.71 million, a P/E ratio of 22.33 and a beta of 3.80. The company has a current ratio of 1.04, a quick ratio of 0.56 and a debt-to-equity ratio of 8.94.

Gear Energy (TSE:GXE - Get Free Report) last posted its earnings results on Wednesday, February 21st. The company reported C($0.03) EPS for the quarter, missing the consensus estimate of C$0.02 by C($0.05). The business had revenue of C$37.52 million during the quarter. Gear Energy had a net margin of 6.61% and a return on equity of 3.52%. As a group, analysts expect that Gear Energy will post 0.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, ATB Capital lowered their price target on Gear Energy from C$1.25 to C$1.00 and set an "outperform" rating on the stock in a research report on Thursday, January 18th.

Gear Energy Company Profile

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 focused operations on Lloydminster heavy oil, Central Alberta light/medium oil, and Southeast Saskatchewan light oil areas.