Jersey Oil and Gas (LON:JOG) Shares Cross Below 50 Day Moving Average – Should You Sell?

Jersey Oil and Gas Plc (LON:JOG) 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.

Jersey Oil and Gas Price Performance

The company’s fifty day simple moving average is GBX 94.61 and its 200-day simple moving average is GBX 116.52. The stock has a market cap of £29.07 million, a P/E ratio of -18.02 and a beta of 0.96. The company has a current ratio of 69.26, a quick ratio of 18.80 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.