Jersey Oil and Gas (LON:JOG) Stock Price Up 17.9% – Here’s What Happened

Shares of Jersey Oil and Gas Plc (LON:JOG) traded up 17.9% during mid-day trading on Thursday . The stock traded as high as GBX 102 ($1.32) and last traded at GBX 102 ($1.32). 409,248 shares changed hands during trading, an increase of 83% from the average session volume of 223,059 shares. The stock had previously closed at GBX 86.50 ($1.12).

Jersey Oil and Gas Trading Up 13.6 %

The business has a fifty day moving average price of GBX 71.90 and a 200-day moving average price of GBX 63.66. 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 cap of £38.85 million, a P/E ratio of -7.30 and a beta of 0.96.

Insider Buying and Selling

In other Jersey Oil and Gas news, insider Jason Andrew Benitz purchased 47,166 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost of GBX 53 ($0.69) per share, with a total value of £24,997.98 ($32,355.66). 55.99% of the stock is currently owned by 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.