Oryx Petroleum Corporation Limited (OXC) Rises 17.65% on Feb 17

February 17, 2018 - By Ellis Scott

Shares of Oryx Petroleum Corporation Limited (TSE:OXC) last traded at 0.2, representing a move of 17.65%, or 0.03 per share, on volume of 2,800 shares. After opening the trading day at 0.2, shares of Oryx Petroleum Corporation Limited traded in a close range. Oryx Petroleum Corporation Limited currently has a total float of 458.06 million shares and on average sees 17,231 shares exchange hands each day. The stock now has a 52-week low of 0.15 and high of 0.5.

S&P/TSX Composite Index: Making Canadian Economy Grow Bigger

The Canadian economy is growing as fast as any global economy giant today. It may not yet be as big as that of the US or Japan but it surely boasts with a promising trade and commerce environment.

The main stock exchange in Canada is the Toronto Stock Exchange (TSX) with the benchmark index being the S&P/TSX Composite Index. The TSX perfectly represents how much the Canadian economy has grown and evolved through the years and how it still continues to transform for the better.

Getting to Know the TSX

The TSX is made up of over 1,500 companies as of October 31, 2014. It has nearly touched the $3 trillion total market capitalization mark in May. Oryx Petroleum Corporation Limited trades on the exchange. The S&P/TSX Composite Index is the benchmark Canadian index, representing roughly 70% of the total market capitalization on the TSX with about 250 companies included in it. More than half of it is composed of the its biggest sectors only’ the Financials sector and the Energy sector. Included in the list of top five biggest sectors in the S&P/TSX Composite Index are the Materials, Industrials, and Consumer Discretionary sectors.

In February 1950, the S&P/TSX Composite Index had posted its all-time low, 217.50. In September 2014, it had posted its all-time high, 15,657.63. The surge in oil prices in 2014 had led the S&P/TSX Composite Index to attain this peak level as both the Energy and Financial sectors primarily got a boost.

S&P/TSX Composite Index Eligibility

The S&P/TSX Composite Index, like most indices, is a free-float market-capitalization-weighted index. This means that stocks that are not frequently traded are automatically excluded from it. These stocks are those that are held by venture capitalists, inside traders, the government, among others.

In order to become a component of the S&P/TSX Composite Index, a company must first meet a set of certain criteria.
First, a company must of course be listed on the TSX. That being said, it must abide by all Canadian laws.
Should it be included, the company must weigh a minimum of 0.05% on the S&P/TSX Composite Index. Oryx Petroleum Corporation Limited complies with the rules for listing.

In terms of price, its average stock price in the past three months prior to rebalancing date must be at least C$1. Its stock price in the three sessions immediately prior to rebalancing date must also be at least C$1.

In terms of trading volume, the company must represent at least 0.025% of the total trading volume of the components of the S&P/TSX Composite Index.
Oil prices are highly expected to rebound soon, giving the TSX a further lift, as the Organization of the Petroleum Exporting Countries (OPEC) is to cut oil production amid the growing supply glut dilemma. This is why more and more investors are considering to enter the Canadian equity market. Needless to say, investing in the TSX is the best way to bet on one of the world’s most influential economies. Professional analysts might be interested how this will affect Oryx Petroleum Corporation Limited.

More important recent Oryx Petroleum Corporation Limited (TSE:OXC) news were published by: Investingnews.com which released: “Oryx Petroleum Announces Year End 2017 Reserves and Resources” on February 16, 2018, also Prnewswire.com published article titled: “Oryx Petroleum Announces Successful Oil Discovery at Zey Gawra in the …”, Seekingalpha.com published: “Oryx Petroleum: Expect A Break-Out In 2015 On Strength Of Prolific Demir Dagh …” on November 15, 2014. More interesting news about Oryx Petroleum Corporation Limited (TSE:OXC) was released by: Seekingalpha.com and their article: “Oryx Petroleum: The Addax Guys Look To Repeat Earlier Success In Kurdistan …” with publication date: May 28, 2014.

Oryx Petroleum Corporation Limited acquires, explores, develops, and produces oil from gas and oil assets in West Africa and the Middle East. The company has market cap of $91.61 million. It has interests in six license areas, including one license area located in the Kurdistan Region of Iraq; and five license areas located in West Africa in Nigeria, the AGC administrative area offshore Senegal and Guinea Bissau, and Congo. It currently has negative earnings. The firm also engages in mining bitumen, as well as provides administrative/technical services.

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