Gear Energy (TSE:GXE) Stock Price Passes Below 200 Day Moving Average – Here’s Why

Gear Energy Ltd. (TSE:GXE)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$0.62 and traded as low as C$0.46. Gear Energy shares last traded at C$0.48, with a volume of 732,396 shares changing hands.

Analyst Ratings Changes

Separately, Atb Cap Markets downgraded 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 quick ratio of 0.56, a current ratio of 0.95 and a debt-to-equity ratio of 6.26. The firm has a 50 day moving average price of C$0.53 and a 200 day moving average price of C$0.62. The stock has a market cap of C$125.20 million, a PE ratio of 9.50 and a beta of 3.52.

Gear Energy (TSE:GXE) last released its quarterly 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 business had revenue of C$38.82 million during the quarter, compared to analysts’ expectations 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, research analysts forecast that Gear Energy Ltd. will post 0.1399549 earnings per share for the current year.

Gear Energy Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st will be given a $0.005 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.06 annualized dividend and a yield of 12.63%. Gear Energy’s dividend payout ratio is presently 120.00%.

Insider Buying and Selling at Gear Energy

In other Gear Energy news, Director Kevin David Johnson purchased 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. Also, Director Scott Robinson acquired 74,000 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was acquired at an average price of C$0.59 per share, with a total value of C$43,978.20. 7.62% of the stock is owned by corporate 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.