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Canadian Overseas Petroleum (XCNQ:XOP) Cash Ratio : 0.11 (As of Sep. 2023)


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What is Canadian Overseas Petroleum Cash Ratio?

The Cash Ratio measures a company’s ability to meet its short-term obligations with cash and near-cash resources. It is calculated as a company's Cash, Cash Equivalents, Marketable Securities divides by its Total Current Liabilities. Canadian Overseas Petroleum's Cash Ratio for the quarter that ended in Sep. 2023 was 0.11.

Canadian Overseas Petroleum has a Cash Ratio of 0.11. It indicates that there are more current liabilities than Cash, Cash Equivalents, Marketable Securities, and the company does not have sufficient cash on hand to pay off its short-term debt.

The historical rank and industry rank for Canadian Overseas Petroleum's Cash Ratio or its related term are showing as below:

XCNQ:XOP' s Cash Ratio Range Over the Past 10 Years
Min: 0.02   Med: 0.91   Max: 5.53
Current: 0.11

During the past 13 years, Canadian Overseas Petroleum's highest Cash Ratio was 5.53. The lowest was 0.02. And the median was 0.91.

XCNQ:XOP's Cash Ratio is ranked worse than
79.21% of 1015 companies
in the Oil & Gas industry
Industry Median: 0.41 vs XCNQ:XOP: 0.11

Canadian Overseas Petroleum Cash Ratio Historical Data

The historical data trend for Canadian Overseas Petroleum's Cash Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Canadian Overseas Petroleum Cash Ratio Chart

Canadian Overseas Petroleum Annual Data
Trend Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22
Cash Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.53 0.05 0.19 0.14 0.32

Canadian Overseas Petroleum Quarterly Data
Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23
Cash Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.31 0.32 0.93 0.32 0.11

Competitive Comparison of Canadian Overseas Petroleum's Cash Ratio

For the Oil & Gas E&P subindustry, Canadian Overseas Petroleum's Cash Ratio, along with its competitors' market caps and Cash Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Canadian Overseas Petroleum's Cash Ratio Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Canadian Overseas Petroleum's Cash Ratio distribution charts can be found below:

* The bar in red indicates where Canadian Overseas Petroleum's Cash Ratio falls into.



Canadian Overseas Petroleum Cash Ratio Calculation

The Cash Ratio measures a company's ability to meet its short-term obligations with its cash and near-cash resources.

Canadian Overseas Petroleum's Cash Ratio for the fiscal year that ended in Dec. 2022 is calculated as:

Cash Ratio (A: Dec. 2022 )=Cash, Cash Equivalents, Marketable Securities/Total Current Liabilities
=5.434/17.171
=0.32

Canadian Overseas Petroleum's Cash Ratio for the quarter that ended in Sep. 2023 is calculated as:

Cash Ratio (Q: Sep. 2023 )=Cash, Cash Equivalents, Marketable Securities/Total Current Liabilities
=2.934/27.686
=0.11

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Canadian Overseas Petroleum  (XCNQ:XOP) Cash Ratio Explanation

The cash ratio is more conservative than other liquidity ratios, such as Quick Ratio and Current Ratio, because it only considers a company's most liquid resources. The numerator of cash ratio only considers Cash, Cash Equivalents and marketable securities. Other current assets, such as accounts receivable and inventories, are not included. The rationale is that these assets may require time to be transformed into cash, and the amount of money received is also uncertain.

The cash ratio shows a company’s ability to pay all current liabilities immediately without selling or liquidating other assets. Generally speaking, a higher cash ratio suggests the company has a stronger ability to cover its short-term debt. However, a high cash ratio could also indicate inefficient management: the company is inefficient in making full utilization of cash to invest protential profitable project. It may also suggest that the company is not confident about future profitability.

In general, the higher the cash ratio, the better the company's liquidity position.


Canadian Overseas Petroleum Cash Ratio Related Terms

Thank you for viewing the detailed overview of Canadian Overseas Petroleum's Cash Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.


Canadian Overseas Petroleum (XCNQ:XOP) Business Description

Traded in Other Exchanges
Address
715 - 5th Avenue South West, Suite 3200, Calgary, AB, CAN, T2P 2X6
Canadian Overseas Petroleum Ltd is an international oil and gas exploration, development and production company pursuing opportunities in the United States with operations in Converse County Wyoming, and in sub-Saharan Africa and independently in other countries. The company's Wyoming operations are environmentally responsible with minimal gas flaring and methane emissions combined with electricity sourced from a neighboring wind farm to power production facilities.
Executives
Anavio Equity Capital Markets Master Fund Limited 10% Security Holder
Atlas Capital Markets Llc 10% Security Holder

Canadian Overseas Petroleum (XCNQ:XOP) Headlines

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