Jersey Oil and Gas (LON:JOG) Shares Up 20% – Time to Buy?

Jersey Oil and Gas Plc (LON:JOG) shares were up 20% during mid-day trading on Tuesday . The company traded as high as GBX 105 ($1.39) and last traded at GBX 105 ($1.39). Approximately 372,923 shares traded hands during mid-day trading, an increase of 53% from the average daily volume of 244,185 shares. The stock had previously closed at GBX 87.50 ($1.16).

Jersey Oil and Gas Price Performance

The company has a debt-to-equity ratio of 0.40, a current ratio of 69.26 and a quick ratio of 18.80. The company’s 50 day simple moving average is GBX 80.99 and its 200 day simple moving average is GBX 67.89. The company has a market capitalization of £35.36 million, a PE ratio of -6.64 and a beta of 0.96.

Insider Activity at Jersey Oil and Gas

In related news, insider Jason Andrew Benitz bought 47,166 shares of the stock in a transaction on Friday, March 7th. The shares were bought at an average cost of GBX 53 ($0.70) per share, for a total transaction of £24,997.98 ($33,087.99). 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.