Jersey Oil and Gas (LON:JOG) Shares Cross Below Fifty Day Moving Average – Time to Sell?

Jersey Oil and Gas Plc (LON:JOG)’s share price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of GBX 94.61 and traded as low as GBX 82.80. Jersey Oil and Gas shares last traded at GBX 89, with a volume of 70,003 shares changing hands.

Jersey Oil and Gas Trading Up 4.7%

The firm has a market cap of £29.40 million, a P/E ratio of -18.22 and a beta of 0.96. The business’s 50 day moving average is GBX 93.53 and its 200-day moving average is GBX 116.33. The company has a quick ratio of 18.80, a current ratio of 69.26 and a debt-to-equity ratio of 0.40.

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.