Jersey Oil and Gas (LON:JOG) Trading Down 8% – Time to Sell?

Shares of Jersey Oil and Gas Plc (LON:JOG) dropped 8% during trading on Friday . The company traded as low as GBX 120 and last traded at GBX 120.50. Approximately 302,004 shares traded hands during trading, an increase of 100% from the average daily volume of 151,215 shares. The stock had previously closed at GBX 131.

Jersey Oil and Gas Price Performance

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 has a market capitalization of £38.55 million, a PE ratio of -23.89 and a beta of 0.96. The stock’s 50-day moving average is GBX 94.26 and its two-hundred day moving average is GBX 114.04.

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.