Jersey Oil and Gas (LON:JOG) Trading 8.4% Higher – Here’s Why

Jersey Oil and Gas Plc (LON:JOG)’s stock price shot up 8.4% during mid-day trading on Thursday . The stock traded as high as GBX 122 ($1.57) and last traded at GBX 122 ($1.57). 209,554 shares traded hands during mid-day trading, a decline of 16% from the average session volume of 249,194 shares. The stock had previously closed at GBX 112.50 ($1.45).

Jersey Oil and Gas Price Performance

The company has a debt-to-equity ratio of 0.40, a quick ratio of 18.80 and a current ratio of 69.26. The firm has a fifty day simple moving average of GBX 76.30 and a 200 day simple moving average of GBX 65.50. The company has a market capitalization of £34.04 million, a PE ratio of -6.39 and a beta of 0.96.

Insider Activity

In other Jersey Oil and Gas news, insider Jason Andrew Benitz acquired 47,166 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were purchased at an average cost of GBX 53 ($0.68) per share, for a total transaction of £24,997.98 ($32,247.14). Insiders own 55.99% of the company’s stock.

Jersey Oil and Gas Company Profile

Jersey Oil & Gas is a UK E&P company focused on building an upstream oil and gas business in the North Sea. The Company holds a significant acreage position within the Central North Sea referred to as the Greater Buchan Area, which includes operatorship and 100% working interests in blocks that contain the Buchan oil field and J2 and Glenn oil discoveries and an 88% working interest in the P2170 Licence, Blocks 20/5b & 21/1d, that contains the Verbier oil discovery.

JOG’s acreage is estimated by management to contain more than 140 million barrels of oil equivalent (“boe”) of discovered mean recoverable resources net to JOG, in addition to significant exploration upside potential.