CGX Energy (CVE:OYL) Trading Up 17.1% – Time to Buy?

Shares of CGX Energy Inc. (CVE:OYL) rose 17.1% during mid-day trading on Thursday . The company traded as high as C$0.24 and last traded at C$0.24. Approximately 210,097 shares changed hands during trading, an increase of 120% from the average daily volume of 95,557 shares. The stock had previously closed at C$0.21.

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CGX Energy Stock Performance

The business has a 50 day moving average of C$0.16 and a two-hundred day moving average of C$0.15. The firm has a market capitalization of C$91.41 million, a price-to-earnings ratio of -1.59 and a beta of 0.14.

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. CGX Energy Inc was incorporated in 1998 and is headquartered in Toronto, Canada.