Jersey Oil and Gas (LON:JOG) Shares Pass Below 50 Day Moving Average – Here’s Why

Shares of Jersey Oil and Gas Plc (LON:JOG) passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of GBX 89.79 and traded as low as GBX 89. Jersey Oil and Gas shares last traded at GBX 91.66, with a volume of 115,576 shares changing hands.

Jersey Oil and Gas Stock Down 2.7%

The firm’s 50-day simple moving average is GBX 89.90 and its 200 day simple moving average is GBX 114.28. 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 company has a market cap of £29.40 million, a P/E ratio of -18.22 and a beta of 0.96.

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.