Gear Energy (TSE:GXE) Stock Price Passes Below Two Hundred Day Moving Average of $0.67

Shares of Gear Energy Ltd. (TSE:GXE) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$0.67 and traded as low as C$0.65. Gear Energy shares last traded at C$0.65, with a volume of 290,447 shares changing hands.

Gear Energy Stock Performance

The firm’s 50-day moving average price is C$0.71 and its two-hundred day moving average price is C$0.67. The company has a debt-to-equity ratio of 9.40, a quick ratio of 0.56 and a current ratio of 1.10. The stock has a market cap of C$171.20 million, a price-to-earnings ratio of 21.67 and a beta of 3.69.

Gear Energy (TSE:GXE) last issued its quarterly earnings data on Wednesday, May 1st. The company reported C$0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.02 by C($0.01). The company had revenue of C$35.67 million during the quarter, compared to analysts’ expectations of C$36.70 million. Gear Energy had a net margin of 7.00% and a return on equity of 3.81%. On average, analysts expect that Gear Energy Ltd. will post 0.1099554 EPS for the current fiscal year.

Gear Energy Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.005 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.06 annualized dividend and a yield of 9.23%. Gear Energy’s dividend payout ratio (DPR) is currently 200.00%.

Insiders Place Their Bets

In other Gear Energy news, Director Don Gray purchased 294,500 shares of the business’s stock in a transaction on Monday, May 6th. The shares were bought at an average cost of C$0.77 per share, for a total transaction of C$226,765.00. In other news, Director Don Gray bought 294,500 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were purchased at an average cost of C$0.77 per share, for a total transaction of C$226,765.00. Also, Director Kevin David Johnson bought 192,900 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were purchased at an average price of C$0.78 per share, for a total transaction of C$150,462.00. Insiders have acquired 1,218,900 shares of company stock worth $910,442 over the last three months. Company insiders own 7.57% of the company’s stock.

About Gear Energy

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.