CGX Energy (CVE:OYL) Stock Passes Above 50-Day Moving Average – Here’s Why

CGX Energy Inc. (CVE:OYL)’s share price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$0.21 and traded as high as C$0.26. CGX Energy shares last traded at C$0.26, with a volume of 502 shares traded.

CGX Energy Price Performance

The company has a debt-to-equity ratio of -12.35, a current ratio of 0.06 and a quick ratio of 0.10. The stock has a 50 day simple moving average of C$0.21 and a two-hundred day simple moving average of C$0.23. The company has a market cap of C$88.02 million, a price-to-earnings ratio of -1.13 and a beta of 2.07.

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.