Gear Energy (TSE:GXE) Share Price Crosses Above 50 Day Moving Average – Here’s Why

Gear Energy Ltd. (TSE:GXE)’s share price 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 downgraded shares of Gear Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 15th.

Gear Energy Price Performance

The firm has a market capitalization of C$131.79 million, a P/E ratio of 10.00 and a beta of 3.52. 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’s fifty day simple moving average is C$0.52 and its 200 day simple moving average is C$0.60.

Gear Energy (TSE:GXE) last announced its earnings results on Thursday, November 7th. The company reported C$0.03 EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 5.36% and a net margin of 9.65%. On average, equities research analysts predict that Gear Energy Ltd. will post 0.1399549 EPS for the current year.

Gear Energy Dividend Announcement

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

Insider Activity

In other Gear Energy news, Director Kevin David Johnson purchased 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, for a total transaction of C$156,110.40. Also, Senior Officer Stephen Power purchased 157,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The stock was acquired at an average price of C$0.49 per share, for a total transaction of C$76,387.50. Corporate 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.