Carnarvon Petroleum (ASX:CVN) Share Price Passes Below 50-Day Moving Average of $0.40

Carnarvon Petroleum Limited (ASX:CVN) shares crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $0.40 and traded as low as $0.38. Carnarvon Petroleum shares last traded at $0.39, with a volume of 3,721,200 shares traded.

The business’s fifty day simple moving average is A$0.40 and its 200 day simple moving average is A$0.45. The stock has a market cap of $557.23 million and a price-to-earnings ratio of -69.17.

Carnarvon Petroleum Company Profile (ASX:CVN)

Carnarvon Petroleum Limited explores for, develops, and produces oil and gas in Australia. The company owns interests in the Phoenix project located in the Bedout Sub-basin within the greater Roebuck Basin; Buffalo project located in the Bonaparte Basin; and Labyrinth project located in the Roebuck Basin in the North West Shelf of Western Australia.

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