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

Key Points

• CGX Energy Inc. (CVE:OYL)'s share price fell below its 50-day moving average of C$0.15, trading as low as C$0.14 recently.
• The company has a market capitalization of C$54.17 million and a PE ratio of -0.89, indicating negative earnings.
• CGX Energy is involved in oil and gas exploration and holds interests in the Corentyne block in Guyana, and is developing the Berbice Deep Water Port project.

CGX Energy Inc. (CVE:OYL - )'s share price passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$0.15 and traded as low as C$0.14. CGX Energy shares last traded at C$0.16, with a volume of 97,280 shares changing hands.

CGX Energy Price Performance

The company has a 50-day moving average price of C$0.15 and a 200 day moving average price of C$0.12. The firm has a market capitalization of C$54.17 million, a PE ratio of -0.89 and a beta of -1.51.

CGX Energy Company Profile

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.

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