Jersey Oil and Gas (LON:JOG) Shares Down 22.2% – Here’s Why

Jersey Oil and Gas Plc (LON:JOG) dropped 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 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 Trading Down 22.2%

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 company has a market capitalization of £36.59 million, a P/E ratio of -22.67 and a beta of 0.96. The firm’s 50-day moving average price is GBX 142.78 and its 200 day moving average price is GBX 129.42.

Jersey Oil and Gas (LON:JOG) last issued its quarterly earnings data on Thursday, September 4th. The company reported GBX (2.13) earnings per share for the quarter. As a group, equities research analysts predict that Jersey Oil and Gas Plc will post -1040.4717197 earnings per share for the current year.

Insider Activity

In related news, insider Jason Andrew Benitz purchased 29,000 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The shares were 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 corporate 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.