Jersey Oil and Gas (LON:JOG) Trading 17.4% Higher on Insider Buying Activity

Jersey Oil and Gas Plc (LON:JOG)’s share price was up 17.4% during mid-day trading on Monday after an insider bought additional shares in the company. The company traded as high as GBX 66.90 ($0.86) and last traded at GBX 66.90 ($0.86). Approximately 1,847,885 shares traded hands during mid-day trading, an increase of 604% from the average daily volume of 262,457 shares. The stock had previously closed at GBX 57 ($0.74).

Specifically, insider Jason Andrew Benitz purchased 47,166 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of GBX 53 ($0.69) per share, with a total value of £24,997.98 ($32,313.83).

Jersey Oil and Gas Stock Up 17.4 %

The firm has a market cap of £22.01 million, a P/E ratio of -4.13 and a beta of 0.96. The business’s fifty day moving average price is GBX 65.70 and its two-hundred day moving average price is GBX 62.79. The company has a current ratio of 69.26, a quick ratio of 18.80 and a debt-to-equity ratio of 0.40.

About Jersey Oil and Gas

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.