ShaMaran Petroleum (CVE:SNM) Trading 8.7% Higher – Here’s Why

ShaMaran Petroleum Corp. (CVE:SNM)’s stock price traded up 8.7% on Monday . The company traded as high as C$0.13 and last traded at C$0.13. 304,680 shares changed hands during mid-day trading, an increase of 81% from the average session volume of 168,223 shares. The stock had previously closed at C$0.12.

ShaMaran Petroleum Stock Performance

The company has a debt-to-equity ratio of 148.75, a quick ratio of 1.07 and a current ratio of 4.05. The company has a market cap of C$355 million, a P/E ratio of -3.75 and a beta of 1.14. The firm has a 50 day moving average price of C$0.12 and a 200-day moving average price of C$0.09.

ShaMaran Petroleum (CVE:SNM) last released its earnings results on Thursday, November 7th. The company reported C$0.04 earnings per share for the quarter. ShaMaran Petroleum had a negative net margin of 12.93% and a negative return on equity of 7.04%. On average, research analysts predict that ShaMaran Petroleum Corp. will post 0.0271318 EPS for the current year.

Insider Buying and Selling

In related news, Director William A.W. Lundin purchased 501,500 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average price of C$0.12 per share, with a total value of C$60,180.00. 25.89% of the stock is owned by company insiders.

ShaMaran Petroleum Company Profile

ShaMaran Petroleum Corp., together with its subsidiaries, engages in the oil and gas exploration and production. It holds interest in the Atrush Block production sharing contract; and in the Sarsang Production Sharing Contract in the Kurdistan region of Iraq. The company was incorporated in 1991 and is headquartered in Vancouver, Canada.