Jersey Oil and Gas (LON:JOG) Stock Price Down 22.2% – Here’s What Happened

Jersey Oil and Gas Plc (LON:JOG)’s stock price was down 22.2% during mid-day trading on Wednesday . The company traded as low as GBX 98.60 and last traded at GBX 112. Approximately 2,088,989 shares traded hands during mid-day trading, an increase of 1,268% from the average daily volume of 152,749 shares. The stock had previously closed at GBX 144.

Jersey Oil and Gas Price Performance

The company’s 50-day simple moving average is GBX 142.78 and its 200 day simple moving average is GBX 129.42. 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 stock has a market capitalization of £36.59 million, a price-to-earnings ratio of -22.67 and a beta of 0.96.

Jersey Oil and Gas (LON:JOG) last released its quarterly earnings results on Thursday, September 4th. The company reported GBX (2.13) earnings per share (EPS) for the quarter. Equities research analysts forecast that Jersey Oil and Gas Plc will post -1040.4717197 EPS for the current year.

Insider Activity

In other news, insider Jason Andrew Benitz bought 29,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were acquired at an average cost of GBX 124 per share, for a total transaction of £35,960. 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.