Jersey Oil and Gas (LON:JOG) Share Price Passes Above 50 Day Moving Average – Here’s Why

Jersey Oil and Gas Plc (LON:JOG) shares crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of GBX 141.06 and traded as high as GBX 141.25. Jersey Oil and Gas shares last traded at GBX 140.51, with a volume of 78,020 shares traded.

Jersey Oil and Gas Stock Performance

The stock has a market capitalization of £46.39 million, a P/E ratio of -28.74 and a beta of 0.96. The stock has a 50 day simple moving average of GBX 141.06 and a two-hundred day simple moving average of GBX 128.52. 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 (LON:JOG) last released its earnings results on Thursday, September 4th. The company reported GBX (2.13) earnings per share for the quarter. On average, equities analysts forecast that Jersey Oil and Gas Plc will post -1040.4717197 EPS for the current fiscal year.

Insiders Place Their Bets

In other Jersey Oil and Gas news, insider Jason Andrew Benitz acquired 29,000 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was bought at an average cost of GBX 124 per share, with a total value of £35,960. 55.99% of the stock is currently owned by company insiders.

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.