Gear Energy (TSE:GXE) Share Price Passes Above Fifty Day Moving Average – What’s Next?

Gear Energy Ltd. (TSE:GXE)’s stock price passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$0.52 and traded as high as C$0.53. Gear Energy shares last traded at C$0.53, with a volume of 1,093,943 shares changing hands.

Analyst Upgrades and Downgrades

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

Gear Energy Stock Performance

The company has a debt-to-equity ratio of 6.26, a current ratio of 0.95 and a quick ratio of 0.56. The stock has a market cap of C$139.70 million, a price-to-earnings ratio of 10.60 and a beta of 3.52. The stock’s 50-day moving average is C$0.52 and its 200 day moving average is C$0.61.

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

Gear Energy Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.005 per share. The ex-dividend date was Monday, December 16th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 11.32%. Gear Energy’s payout ratio is 120.00%.

Insider Activity

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