Globe says Gear insiders have been buying shares lately
2022-08-08 08:50 ET - In the News
The Globe and Mail reports in its Saturday, Aug. 6, edition that Gear Energy is an oil patch company that has rewarded its investors with dividends. The Globe's guest columnist Ted Dixon writes in the Who Is Buying and Selling column that in the spring, Gear Energy achieved net debt of zero. That cleared the way for Gear to start a monthly dividend of a penny a share, announced on July 27, 2022. Meanwhile, over the past 90 days, insiders have been net buyers of 148,629 shares in the public market. Most recently, a director bought 10,000 shares on August 2 at $1.33. The Globe reported on March 12, 2020, that National Bank Financial analysts Dan Payne and John Hunt had lowered Gear Energy to "sector perform" from "outperform" when it was worth 13 cents. The Globe reported on Aug. 4, 2021, that Stifel Nicolaus analyst Robert Fitzmartyn upgraded his rating for Gear Energy to "buy" from "hold" following the release of in-line second quarter financial results. The shares could then be had for 66 cents. The Globe reported on Feb. 23, 2022, that Mr. Fitzmartyn had downgraded his recommendation for Gear Energy to "hold" from "buy." Gear Energy shares were then worth $1.44.