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

Gear Energy Ltd. (TSE:GXE) shares 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.

Analysts Set New Price Targets

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 Stock Performance

The stock has a market cap 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 firm’s 50-day moving average price is C$0.52 and its 200-day moving average price is C$0.60.

Gear Energy (TSE:GXE) last announced its quarterly 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 business 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%. Sell-side analysts expect that Gear Energy Ltd. will post 0.1399549 earnings per share for the current fiscal year.

Gear Energy Dividend Announcement

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

Insiders Place Their Bets

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

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.