Gear Energy (TSE:GXE) Shares Cross Below Two Hundred Day Moving Average – Here’s Why

Gear Energy Ltd. (TSE:GXE) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$0.62 and traded as low as C$0.46. Gear Energy shares last traded at C$0.48, with a volume of 732,396 shares.

Analyst Upgrades and Downgrades

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

Gear Energy Stock Performance

The stock has a market capitalization of C$125.20 million, a P/E ratio of 9.50 and a beta of 3.52. The company has a quick ratio of 0.56, a current ratio of 0.95 and a debt-to-equity ratio of 6.26. The stock has a 50 day simple moving average of C$0.53 and a two-hundred day simple moving average of C$0.62.

Gear Energy (TSE:GXE) last released its 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 firm had revenue of C$38.82 million during 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%. On average, equities analysts forecast that Gear Energy Ltd. will post 0.1399549 EPS for the current fiscal year.

Gear Energy Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.005 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.06 dividend on an annualized basis and a yield of 12.63%. Gear Energy’s dividend payout ratio (DPR) is 120.00%.

Insider Buying and Selling at Gear Energy

In other news, Director Scott Robinson acquired 74,000 shares of Gear Energy stock in a transaction dated Thursday, October 3rd. The stock was bought at an average price of C$0.59 per share, for a total transaction of C$43,978.20. Corporate insiders own 7.62% 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.