Jersey Oil and Gas (LON:JOG) Stock Price Down 14% – Here’s What Happened

Jersey Oil and Gas Plc (LON:JOG)’s stock price traded down 14% during trading on Friday . The company traded as low as GBX 51.50 ($0.67) and last traded at GBX 52 ($0.67). 1,204,557 shares changed hands during trading, an increase of 535% from the average session volume of 189,748 shares. The stock had previously closed at GBX 60.50 ($0.78).

Jersey Oil and Gas Trading Down 5.8 %

The firm has a market capitalization of £18.75 million, a PE ratio of -3.52 and a beta of 0.96. The stock’s 50-day moving average price is GBX 65.70 and its 200 day moving average price is GBX 62.94. The company has a debt-to-equity ratio of 0.40, a current ratio of 69.26 and a quick ratio of 18.80.

Insider Activity

In related news, insider Jason Andrew Benitz purchased 47,166 shares of Jersey Oil and Gas stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of GBX 53 ($0.68) per share, for a total transaction of £24,997.98 ($32,301.31). Corporate 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.