Jersey Oil and Gas (LON:JOG) Shares Cross Below 50-Day Moving Average – What’s Next?

Jersey Oil and Gas Plc (LON:JOG)’s share price passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of GBX 128.24 and traded as low as GBX 80. Jersey Oil and Gas shares last traded at GBX 81.50, with a volume of 13,773 shares trading hands.

Jersey Oil and Gas Trading Down 2.4%

The company has a 50 day simple moving average of GBX 128.24 and a two-hundred day simple moving average of GBX 126.71. 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 cap of £26.13 million, a PE ratio of -16.19 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.