Gear Energy (TSE:GXE) Price Target Lowered to C$1.60 at ATB Capital

Gear Energy (TSE:GXEGet Rating) had its target price dropped by ATB Capital from C$1.80 to C$1.60 in a report released on Thursday, BayStreet.CA reports. ATB Capital’s price target points to a potential upside of 50.94% from the stock’s current price.

A number of other brokerages have also commented on GXE. Stifel Firstegy restated a “hold” rating on shares of Gear Energy in a research note on Thursday, January 12th. Stifel Nicolaus set a C$1.15 target price on shares of Gear Energy and gave the stock a “hold” rating in a report on Friday, January 13th.

Gear Energy Stock Down 1.9 %

Gear Energy stock opened at C$1.06 on Thursday. The company has a quick ratio of 0.56, a current ratio of 0.99 and a debt-to-equity ratio of 2.07. The company has a market capitalization of C$275.28 million and a PE ratio of 2.21. The firm’s fifty day moving average is C$1.13 and its 200 day moving average is C$1.21. Gear Energy has a 12-month low of C$0.96 and a 12-month high of C$1.94.

Gear Energy (TSE:GXEGet Rating) last issued its earnings results on Wednesday, November 2nd. The company reported C$0.07 EPS for the quarter. The firm had revenue of C$44.84 million during the quarter. As a group, sell-side analysts predict that Gear Energy will post 0.21 EPS for the current fiscal year.

Insider Activity at Gear Energy

In other Gear Energy news, Senior Officer Bryan Dozzi sold 81,700 shares of the company’s stock in a transaction dated Wednesday, December 28th. The shares were sold at an average price of C$1.10, for a total value of C$90,033.40. Following the completion of the sale, the insider now directly owns 216,099 shares of the company’s stock, valued at approximately C$238,141.10. In other Gear Energy news, Senior Officer Bryan Dozzi sold 81,700 shares of the business’s stock in a transaction on Wednesday, December 28th. The stock was sold at an average price of C$1.10, for a total value of C$90,033.40. Following the transaction, the insider now owns 216,099 shares of the company’s stock, valued at C$238,141.10. Also, Director Don Gray sold 1,059,800 shares of the firm’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of C$1.29, for a total value of C$1,367,142.00. Following the sale, the director now directly owns 8,195,480 shares of the company’s stock, valued at C$10,572,169.20. Insiders have sold 1,458,500 shares of company stock valued at $1,801,579 over the last ninety days.

Gear Energy Company Profile

(Get Rating)

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.

Further Reading

Receive News & Ratings for Gear Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gear Energy and related companies with MarketBeat.com's FREE daily email newsletter.