Jersey Oil and Gas (LON:JOG) Shares Down 7.6% – Here’s What Happened

Jersey Oil and Gas Plc (LON:JOG)’s share price traded down 7.6% on Wednesday . The company traded as low as GBX 110 ($1.42) and last traded at GBX 115 ($1.49). 337,400 shares traded hands during mid-day trading, an increase of 34% from the average session volume of 251,559 shares. The stock had previously closed at GBX 124.50 ($1.61).

Jersey Oil and Gas Price Performance

The stock has a fifty day moving average of GBX 73.95 and a two-hundred day moving average of GBX 64.51. The stock has a market cap of £37.00 million, a price-to-earnings ratio of -6.95 and a beta of 0.96. The company has a quick ratio of 18.80, a current ratio of 69.26 and a debt-to-equity ratio of 0.40.

Insider Activity

In other news, insider Jason Andrew Benitz acquired 47,166 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of GBX 53 ($0.69) per share, with a total value of £24,997.98 ($32,318.01). 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.