CGX Energy (CVE:OYL) Stock Price Down 32.3% – Should You Sell?

CGX Energy Inc. (CVE:OYL)’s share price dropped 32.3% during mid-day trading on Wednesday . The company traded as low as C$0.11 and last traded at C$0.11. Approximately 575,562 shares traded hands during trading, an increase of 1,055% from the average daily volume of 49,825 shares. The stock had previously closed at C$0.16.

CGX Energy Price Performance

The stock’s 50-day moving average price is C$0.15 and its 200 day moving average price is C$0.17. The company has a quick ratio of 0.10, a current ratio of 0.25 and a debt-to-equity ratio of 78.75. The firm has a market capitalization of C$35.55 million, a price-to-earnings ratio of -10.50 and a beta of 1.33.

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.