Jersey Oil and Gas (LON:JOG) Shares Down 7.6% – Time to Sell?

Jersey Oil and Gas Plc (LON:JOG)’s share price dropped 7.6% during trading on Wednesday . The stock traded as low as GBX 110 ($1.42) and last traded at GBX 115 ($1.48). Approximately 337,400 shares traded hands during trading, an increase of 34% from the average daily volume of 251,559 shares. The stock had previously closed at GBX 124.50 ($1.61).

Jersey Oil and Gas Stock Performance

The company has a market capitalization of £34.04 million, a PE ratio of -6.39 and a beta of 0.96. The firm has a 50-day moving average of GBX 75.72 and a two-hundred day moving average of GBX 65.23. The company has a quick ratio of 18.80, a current ratio of 69.26 and a debt-to-equity ratio of 0.40.

Insider Activity

In other news, insider Jason Andrew Benitz bought 47,166 shares of the stock in a transaction dated Friday, March 7th. The shares were acquired at an average cost of GBX 53 ($0.68) per share, with a total value of £24,997.98 ($32,247.14). Insiders own 55.99% of the company’s stock.

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.