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

Jersey Oil and Gas Plc (LON:JOG) passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of GBX 57.60 ($0.72) and traded as low as GBX 48 ($0.60). Jersey Oil and Gas shares last traded at GBX 48.66 ($0.61), with a volume of 69,134 shares changing hands.

Jersey Oil and Gas Trading Up 2.0 %

The business has a 50-day simple moving average of GBX 57.60 and a 200-day simple moving average of GBX 70.29. The company has a market cap of £16.33 million, a PE ratio of -312.38 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.

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.