Gear Energy (GXE) Given New C$1.75 Price Target at National Bank Financial

Gear Energy (TSE:GXE) had its target price cut by National Bank Financial from C$2.00 to C$1.75 in a research note published on Thursday morning. They currently have an outperform rating on the stock.

Separately, Canaccord Genuity boosted their price objective on shares of Gear Energy from C$1.50 to C$1.75 in a report on Tuesday, July 24th.

TSE GXE traded down C$0.01 during trading on Thursday, reaching C$0.72. The company’s stock had a trading volume of 856,246 shares, compared to its average volume of 376,755. The company has a debt-to-equity ratio of 30.56, a current ratio of 0.83 and a quick ratio of 0.46. Gear Energy has a 12 month low of C$0.63 and a 12 month high of C$1.47.

Gear Energy (TSE:GXE) last posted its quarterly earnings data on Wednesday, August 8th. The company reported C($0.01) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.02 by C($0.03). The business had revenue of C$33.67 million for the quarter, compared to analysts’ expectations of C$33.75 million. On average, research analysts predict that Gear Energy will post 0.177230774684024 EPS for the current year.

In other Gear Energy news, Director John O’connell acquired 30,500 shares of the business’s stock in a transaction on Tuesday, August 21st. The stock was purchased at an average price of C$1.14 per share, with a total value of C$34,770.00. Insiders acquired a total of 60,090 shares of company stock valued at $68,127 in the last three months.

About Gear Energy

Gear Energy Ltd. engages in acquiring, exploring, developing, and holding interests in petroleum and natural gas properties and assets in Canada. Its core heavy oil producing areas are located in East Central Alberta and West Central Saskatchewan; and light oil producing areas are located Central Alberta.

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