Gear Energy (TSE:GXE) Shares Cross Above 50 Day Moving Average – Here’s Why

Gear Energy Ltd. (TSE:GXE) shares crossed above its 50 day moving average during trading on Friday . 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$0.53, with a volume of 1,093,943 shares.

Analyst Upgrades and Downgrades

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

Gear Energy Price Performance

The company has a market capitalization of C$139.70 million, a P/E ratio of 10.60 and a beta of 3.52. The business’s 50-day moving average is C$0.52 and its two-hundred day moving average is C$0.61. The company has a quick ratio of 0.56, a current ratio of 0.95 and a debt-to-equity ratio of 6.26.

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

Gear Energy Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.005 per share. This represents a $0.06 annualized dividend and a yield of 11.32%. The ex-dividend date was Monday, December 16th. Gear Energy’s dividend payout ratio (DPR) is presently 120.00%.

Insider Transactions at Gear Energy

In related news, Senior Officer Stephen Power purchased 157,500 shares of the firm’s stock in a transaction dated Friday, December 27th. The shares were 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 dated Monday, December 23rd. The stock was purchased at an average price of C$0.47 per share, with a total value of C$156,110.40. 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.