Jersey Oil and Gas (LON:JOG) Stock Price Up 8.4% – Here’s What Happened

Jersey Oil and Gas Plc (LON:JOG)’s stock price was up 8.4% on Thursday . The stock traded as high as GBX 122 ($1.58) and last traded at GBX 122 ($1.58). Approximately 209,554 shares traded hands during trading, a decline of 16% from the average daily volume of 249,194 shares. The stock had previously closed at GBX 112.50 ($1.46).

Jersey Oil and Gas Trading Up 7.6 %

The stock’s 50-day simple moving average is GBX 74.80 and its two-hundred day simple moving average is GBX 64.85. 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 firm has a market capitalization of £39.80 million, a P/E ratio of -7.48 and a beta of 0.96.

Insiders Place Their Bets

In related news, insider Jason Andrew Benitz acquired 47,166 shares of the business’s stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of GBX 53 ($0.69) per share, with a total value of £24,997.98 ($32,460.69). 55.99% of the stock is currently owned by company insiders.

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.