Jersey Oil and Gas (LON:JOG) Trading Up 13.3% – Here’s Why

Shares of Jersey Oil and Gas Plc (LON:JOG) traded up 13.3% on Friday . The stock traded as high as GBX 134 and last traded at GBX 128. Approximately 777,647 shares changed hands during mid-day trading, an increase of 469% from the average session volume of 136,638 shares. The stock had previously closed at GBX 113.

Jersey Oil and Gas Price Performance

The stock has a market cap of £41.82 million, a P/E ratio of -24.43 and a beta of 0.01. The business has a 50 day simple moving average of GBX 97.24 and a 200-day simple moving average of GBX 103.85. The company has a debt-to-equity ratio of 0.06, a quick ratio of 18.80 and a current ratio of 46.30.

Jersey Oil and Gas (LON:JOG) last released its earnings results on Tuesday, May 12th. The company reported GBX (5.24) EPS for the quarter. The firm had revenue of GBX (217) million during the quarter. On average, sell-side analysts forecast that Jersey Oil and Gas Plc will post -1040.4717197 EPS for the current year.

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.