Jersey Oil and Gas (LON:JOG) Share Price Passes Above Fifty Day Moving Average – Here’s Why

Jersey Oil and Gas Plc (LON:JOG) shares crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of GBX 109.36 and traded as high as GBX 110. Jersey Oil and Gas shares last traded at GBX 110, with a volume of 106,441 shares changing hands.

Jersey Oil and Gas Price Performance

The stock has a 50-day moving average price of GBX 109.64 and a two-hundred day moving average price of GBX 107.95. The company has a current ratio of 46.30, a quick ratio of 18.80 and a debt-to-equity ratio of 0.06. The stock has a market cap of £35.61 million, a price-to-earnings ratio of -20.80 and a beta of 0.03.

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.