Jersey Oil and Gas (LON:JOG) Trading Up 8.4% – Still a Buy?

Jersey Oil and Gas Plc (LON:JOG)’s share price traded up 8.4% during mid-day trading on Thursday . The company traded as high as GBX 122 ($1.57) and last traded at GBX 122 ($1.57). 209,554 shares changed hands during trading, a decline of 16% from the average session volume of 249,194 shares. The stock had previously closed at GBX 112.50 ($1.45).

Jersey Oil and Gas Stock Down 11.9 %

The firm has a market capitalization of £34.04 million, a P/E ratio of -6.39 and a beta of 0.96. The company has a current ratio of 69.26, a quick ratio of 18.80 and a debt-to-equity ratio of 0.40. The company’s fifty day simple moving average is GBX 76.30 and its 200 day simple moving average is GBX 65.50.

Insiders Place Their Bets

In other news, insider Jason Andrew Benitz acquired 47,166 shares of Jersey Oil and Gas stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average cost of GBX 53 ($0.68) per share, with a total value of £24,997.98 ($32,247.14). 55.99% of the stock is 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.