Gear Energy (TSE:GXE) Stock Crosses Below 200-Day Moving Average – Time to Sell?

Gear Energy Ltd. (TSE:GXE) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred 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.

Wall Street Analysts Forecast Growth

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

Gear Energy Price Performance

The firm’s 50 day simple moving average is C$0.53 and its 200-day simple moving average is C$0.62. The company has a market cap of C$125.20 million, a price-to-earnings ratio of 9.50 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.

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 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 firm had revenue of C$38.82 million for the quarter, compared to analyst estimates of C$38.70 million. As a group, sell-side analysts anticipate that Gear Energy Ltd. will post 0.1399549 earnings per share for the current year.

Gear Energy Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.005 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 12.63%. Gear Energy’s payout ratio is 120.00%.

Insider Buying and Selling

In related news, Director Kevin David Johnson purchased 333,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was acquired at an average price of C$0.47 per share, for a total transaction of C$156,110.40. Also, Director Scott Robinson bought 74,000 shares of the stock in a transaction on Thursday, October 3rd. The shares were bought at an average price of C$0.59 per share, for a total transaction of C$43,978.20. 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.