CGX Energy (CVE:OYL) Shares Down 13% – Here’s Why

CGX Energy Inc. (CVE:OYL) shares dropped 13% during mid-day trading on Wednesday . The company traded as low as C$0.20 and last traded at C$0.20. Approximately 122,999 shares traded hands during trading, a decline of 2% from the average daily volume of 125,772 shares. The stock had previously closed at C$0.23.

CGX Energy Price Performance

The firm has a fifty day moving average of C$0.22 and a two-hundred day moving average of C$0.17. The stock has a market capitalization of C$66.02 million, a P/E ratio of -1.15 and a beta of 1.65. The company has a debt-to-equity ratio of -12.35, a current ratio of 0.06 and a quick ratio of 0.10.

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.