CGX Energy (CVE:OYL) Share Price Crosses Below 50 Day Moving Average - Here's Why

Key Points

• Share price crossed below its fifty day moving average, falling to C$0.23 versus the 50-day MA of C$0.25, with a trading volume of 2,833 shares.
• Very weak liquidity and negative earnings: quick ratio 0.10, current ratio 0.06, P/E -1.00 and market capitalization C$77.87 million, indicating elevated financial risk.
• CGX Energy is an oil and gas exploration company operating in Guyana (Corentyne block) and is also developing the Berbice Deep Water Port project.

CGX Energy Inc. (CVE:OYL - )'s share price crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$0.25 and traded as low as C$0.23. CGX Energy shares last traded at C$0.23, with a volume of 2,833 shares.

CGX Energy Stock Performance

The company has a quick ratio of 0.10, a current ratio of 0.06 and a debt-to-equity ratio of -12.35. The stock has a fifty day simple moving average of C$0.25 and a 200-day simple moving average of C$0.18. The company has a market capitalization of C$77.87 million, a P/E ratio of -1.00 and a beta of 1.99.

About CGX Energy

CGX Energy Inc, an oil and gas exploration company, explores for and evaluates petroleum and natural gas properties in Guyana, South America. It holds interests in a petroleum prospecting licenses and related petroleum agreements on Corentyne block in the Guyana Basin, offshore Guyana. The company also constructs and develops the Berbice Deep Water Port project in Guyana. CGX Energy Inc was incorporated in 1998 and is headquartered in Toronto, Canada.

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