Gear Energy (TSE:GXE) Share Price Passes Below Two Hundred Day Moving Average of $1.18

Gear Energy Ltd. (TSE:GXE – Get Rating)’s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$1.18 and traded as low as C$1.06. Gear Energy shares last traded at C$1.07, with a volume of 2,994,364 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on GXE shares. Stifel Firstegy reissued a “hold” rating on shares of Gear Energy in a report on Thursday, January 12th. Stifel Nicolaus set a C$1.15 price objective on Gear Energy and gave the stock a “hold” rating in a research note on Friday, January 13th. Finally, ATB Capital decreased their target price on Gear Energy from C$1.80 to C$1.60 in a report on Thursday, January 19th.

Gear Energy Stock Down 2.7 %

The company has a quick ratio of 0.56, a current ratio of 0.96 and a debt-to-equity ratio of 2.83. The company has a market capitalization of C$278.94 million, a price-to-earnings ratio of 3.82 and a beta of 4.13. The business’s 50-day moving average is C$1.08 and its 200-day moving average is C$1.18.

Gear Energy Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be paid a $0.01 dividend. The ex-dividend date is Tuesday, March 14th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 11.21%. Gear Energy’s payout ratio is 42.86%.

Insider Buying and Selling

In other Gear Energy news, Senior Officer Bryan Dozzi sold 81,700 shares of the business’s stock in a transaction that occurred on Wednesday, December 28th. The stock was sold at an average price of C$1.10, for a total value of C$90,033.40. Following the completion of the transaction, the insider now directly owns 216,099 shares of the company’s stock, valued at C$238,141.10. In related news, Director Ingram Gillmore sold 144,700 shares of Gear Energy stock in a transaction dated Thursday, December 22nd. The stock was sold at an average price of C$1.04, for a total value of C$150,488.00. Following the completion of the transaction, the director now owns 1,850,091 shares in the company, valued at approximately C$1,924,094.64. Also, Senior Officer Bryan Dozzi sold 81,700 shares of the company’s stock in a transaction dated Wednesday, December 28th. The stock was sold at an average price of C$1.10, for a total value of C$90,033.40. Following the completion of the transaction, the insider now directly owns 216,099 shares of the company’s stock, valued at approximately C$238,141.10. Insiders have sold a total of 306,900 shares of company stock valued at $324,249 over the last ninety days. Company insiders own 6.81% of the company’s stock.

About Gear Energy

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Gear Energy Ltd., an exploration and production company, acquires, develops, and holds interests in petroleum and natural gas properties and assets in Canada. Its properties include the Celtic/Paradise Hill property located approximately 40 kilometers northeast of Lloydminster Alberta; the Wildmere field situated approximately 200 kilometers southeast of Edmonton, Alberta; the Wilson Creek property located in Central Alberta; and the Tableland property situated southwest of Estevan in Southeast Saskatchewan.