Gear Energy - GXE Stock Forecast, Price & News

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. As of December 31, 2021, the company's Celtic/Paradise Hill property had proved plus probable reserves of 4,047 thousand barrels (Mbbls) of heavy crude oil; the Wildmere field had proved plus probable reserves of 3,405 Mbbls of heavy crude oil and 1.4 billion cubic feet (Bcf) of natural gas; the Wilson Creek property comprised of proved plus probable reserves of 3,318 Mbbls of light crude oil and natural gas liquids (NGLs), and 6.2 Bcf of natural gas; and the Tableland property had proved plus probable reserves of 5,315 Mbbls of light crude oil and NGLs, and 3.5 BCF of natural gas. Gear Energy Ltd. is headquartered in Calgary, Canada.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on GXE shares. Stifel Nicolaus decreased their target price on shares of Gear Energy from C$1.75 to C$1.55 in a research note on Wednesday, August 3rd. Stifel Firstegy raised Gear Energy from a "hold" rating to a "buy" rating in a report on Tuesday, August 2nd.

Gear Energy Price Performance

Shares of TSE:GXE opened at C$1.34 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 2.07. The stock has a market capitalization of C$345.95 million and a PE ratio of 3.05. The firm's 50 day moving average price is C$1.27 and its 200-day moving average price is C$1.45. Gear Energy has a twelve month low of C$0.53 and a twelve month high of C$1.94.

Gear Energy Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 31st will be given a $0.02 dividend. The ex-dividend date is Friday, August 12th. This represents a $0.24 annualized dividend and a yield of 17.91%. Gear Energy's payout ratio is presently 2.27%.

Insider Transactions at Gear Energy

In other news, Senior Officer Jason John Kenneth Kaluski sold 40,200 shares of the company's stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of C$1.54, for a total value of C$61,908.00. Following the completion of the sale, the insider now directly owns 403,259 shares in the company, valued at approximately C$621,018.86. In other news, Senior Officer Han-Bom David Hwang bought 42,000 shares of Gear Energy stock in a transaction that occurred on Thursday, June 9th. The stock was bought at an average cost of C$1.53 per share, with a total value of C$64,260.00. Following the acquisition, the insider now owns 1,011,275 shares of the company's stock, valued at approximately C$1,547,250.75. Also, Senior Officer Jason John Kenneth Kaluski sold 40,200 shares of Gear Energy stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of C$1.54, for a total transaction of C$61,908.00. Following the transaction, the insider now directly owns 403,259 shares in the company, valued at approximately C$621,018.86. In the last 90 days, insiders have acquired 102,780 shares of company stock worth $155,341 and have sold 60,100 shares worth $92,346.