Gear Energy (TSE:GXE) Stock Crosses Above Fifty Day Moving Average – Here’s What Happened

Gear Energy Ltd. (TSE:GXE) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$0.52 and traded as high as C$0.53. Gear Energy shares last traded at C$0.50, with a volume of 797,486 shares.

Analyst Upgrades and Downgrades

Separately, Atb Cap Markets lowered Gear Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 15th.

Gear Energy Stock Performance

The stock has a market capitalization of C$131.79 million, a PE ratio of 10.00 and a beta of 3.52. The company has a current ratio of 0.95, a quick ratio of 0.56 and a debt-to-equity ratio of 6.26. The firm has a 50-day moving average price of C$0.51 and a 200-day moving average price of C$0.60.

Gear Energy (TSE:GXE) last posted its quarterly earnings results on Thursday, November 7th. The company reported C$0.03 earnings per share for the quarter, missing the consensus estimate of C$0.04 by C($0.01). The company had revenue of C$38.82 million for the quarter, compared to the consensus estimate of C$38.70 million. Gear Energy had a net margin of 9.65% and a return on equity of 5.36%. As a group, equities analysts forecast that Gear Energy Ltd. will post 0.1399549 EPS for the current fiscal year.

Gear Energy Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were issued a $0.005 dividend. This represents a $0.06 annualized dividend and a yield of 12.00%. The ex-dividend date was Monday, December 16th. Gear Energy’s dividend payout ratio (DPR) is currently 120.00%.

Insider Buying and Selling at Gear Energy

In related news, Director Kevin David Johnson purchased 333,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was purchased at an average cost of C$0.47 per share, with a total value of C$156,110.40. Also, Senior Officer Stephen Power acquired 157,500 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The shares were bought at an average price of C$0.49 per share, for a total transaction of C$76,387.50. Insiders own 7.62% of the company’s stock.

Gear Energy Company Profile

Gear Energy Ltd., an exploration and production company, engages in the acquiring, developing, and holding of interests in petroleum and natural gas properties and assets in Canada. The company's oil properties are located in Central Alberta, West Central Saskatchewan, and Southeast Saskatchewan.