Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.
If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.
* Price is subject to applicable taxes.
Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.
We highlighted insider buying at Gear Energy (GXE) in our weekly Globe and Mail Who is Buying and Selling feature on September 21st. The article was based on the September 17th INK morning report where we note that Gear has recovered from a disappointing Q1 and insiders have been buying. Their continued enthusiasm suggests the stock remains undervalued despite a recent rally. Below is our 90 second video summary of our report that featured Gear.
INK Top 40 and trading day morning reports are available through INKResearch.com or the Canadian Insider Club. INK is subscriber supported and does not accept payment for stock coverage.
Script (check against delivery):
Gear Energy is targeting heavy oil in
the Lloydminister area
of Alberta and Saskatchewan,
light and medium oil in Central Alberta
and light oil Southeast Saskatchewan.
In Q2 it produced
4,104 barrels of oil per day of heavy oil
representing 57% of total production and
2,166 bbl/day of light and medium crude
making up 30% of production.
Total production averaged 7,161 barrels of
oil equivalent per day
up 4% from the same period last year.
It was record production for the firm,
and it also represented
a recovery from a disappointing Q1.
The share price peaked for the year on
April 23rd at 87 cents and went to
set a low of 41 cents on August 19th.
Insiders were buying around
that time and included a 2.5
million share purchase by
oil patch entrepreneur Don Gray at 49 cents.
An insider was also buying
Monday September 16th as
crude oil was surging.
That suggests to us that
the stock likely remains undervalued.
According to Refintiv data
the stock started trading the week at
trailing 12-month price-to-cash flow ratio
of 1.9,
well below the market average of 9.0.
Although the stock does not pay a dividend,
later this week the company
is hoping to get the green light from
shareholders to allow it to
potentially start buying back shares.
Our report which is not a recommendation
to buy or sell securities is
available through INKResearch.com or
the Canadian Insider Club.
Good luck friends and thanks for listening!
We use cookies to tailor your experience, measure site performance and present relevant offers and advertisements. By clicking ‘Accept’ or any content on this site, you agree that cookies can be placed on your browser. You can view our privacy policy to learn more.
If you want a better viewing and privacy experience, join us as Canadian Insider Club Ultra member to eliminate third-party ads