Gear Energy (TSE:GXE) Share Price Crosses Above 50-Day Moving Average – Should You Sell?

Shares of Gear Energy Ltd. (TSE:GXE) crossed above its fifty day moving average during trading on Thursday . The stock has a fifty 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 report on Tuesday, October 15th.

Gear Energy Price 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 stock’s 50 day moving average price is C$0.51 and its two-hundred day moving average price is C$0.59. The firm has a market capitalization of C$131.79 million, a price-to-earnings ratio of 10.00 and a beta of 3.52.

Gear Energy (TSE:GXE) last issued 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). Gear Energy had a net margin of 9.65% and a return on equity of 5.36%. The firm had revenue of C$38.82 million during the quarter, compared to analysts’ expectations of C$38.70 million. Analysts anticipate that Gear Energy Ltd. will post 0.1399549 EPS for the current fiscal year.

Gear Energy Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were paid a $0.005 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 12.00%. The ex-dividend date of this dividend was Monday, December 16th. Gear Energy’s dividend payout ratio (DPR) is presently 120.00%.

Insider Transactions at Gear Energy

In related news, Director Kevin David Johnson bought 333,000 shares of Gear Energy stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost 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 stock in a transaction on Friday, December 27th. The shares were bought at an average price of C$0.49 per share, for a total transaction of C$76,387.50. 7.62% of the stock is currently owned by company 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.