Jersey Oil and Gas (LON:JOG) Share Price Passes Below Fifty Day Moving Average – Here’s Why

Shares of Jersey Oil and Gas Plc (LON:JOG) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of GBX 64.29 ($0.82) and traded as low as GBX 57 ($0.72). Jersey Oil and Gas shares last traded at GBX 57.50 ($0.73), with a volume of 162,902 shares.

Jersey Oil and Gas Stock Up 0.9 %

The firm has a fifty day moving average price of GBX 64.29 and a 200-day moving average price of GBX 63.78. The company has a quick ratio of 18.80, a current ratio of 69.26 and a debt-to-equity ratio of 0.40. The firm has a market cap of £19.07 million, a price-to-earnings ratio of -3.58 and a beta of 0.96.

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.