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

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

Jersey Oil and Gas Price Performance

The stock has a 50 day moving average of GBX 142.10 and a two-hundred day moving average of GBX 129.20. The company has a debt-to-equity ratio of 0.40, a quick ratio of 18.80 and a current ratio of 69.26. The firm has a market capitalization of £34.63 million, a P/E ratio of -21.46 and a beta of 0.96.

Jersey Oil and Gas (LON:JOG) last posted its quarterly earnings data on Thursday, September 4th. The company reported GBX (2.13) earnings per share (EPS) for the quarter. Sell-side analysts predict that Jersey Oil and Gas Plc will post -1040.4717197 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jason Andrew Benitz acquired 29,000 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were bought at an average price of GBX 124 per share, for a total transaction of £35,960. 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.