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

Gear Energy Ltd. (TSE:GXE)’s stock price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$0.51 and traded as high as C$0.52. Gear Energy shares last traded at C$0.50, with a volume of 232,603 shares traded.

Wall Street Analyst Weigh In

Separately, Atb Cap Markets downgraded 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 company has a current ratio of 0.95, a quick ratio of 0.56 and a debt-to-equity ratio of 6.26. The business’s 50-day moving average is C$0.51 and its two-hundred day moving average is C$0.59. The firm has a market cap of C$131.79 million, a P/E ratio of 10.00 and a beta of 3.52.

Gear Energy (TSE:GXE) last posted its 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). The company 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%. As a group, analysts expect that Gear Energy Ltd. will post 0.1399549 earnings per share for the current fiscal year.

Gear Energy Announces Dividend

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

Insider Buying and Selling at Gear Energy

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

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.