Gear Energy Ltd. (TSE:GXE – Get Free Report)’s stock price hit a new 52-week low on Wednesday . The company traded as low as C$0.83 and last traded at C$0.84, with a volume of 282158 shares changing hands. The stock had previously closed at C$0.84.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus cut their price target on Gear Energy from C$1.10 to C$1.00 in a report on Thursday, May 4th.

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Gear Energy Price Performance

Gear Energy Cuts Dividend

The company has a quick ratio of 0.56, a current ratio of 1.15 and a debt-to-equity ratio of 8.80. The stock’s 50-day moving average price is C$0.94 and its 200-day moving average price is C$1.00. The company has a market capitalization of C$217.13 million, a price-to-earnings ratio of 3.07 and a beta of 3.94.

The company also recently disclosed a monthly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.005 per share. This represents a $0.06 annualized dividend and a yield of 7.23%. The ex-dividend date is Monday, August 14th. Gear Energy’s dividend payout ratio is 22.22%.

About Gear Energy

(Get Free Report)

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.

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