ShaMaran Petroleum (CVE:SNM) Trading 8.3% Higher – What’s Next?

ShaMaran Petroleum Corp. (CVE:SNM)’s share price rose 8.3% during trading on Wednesday . The stock traded as high as C$0.13 and last traded at C$0.13. Approximately 495,942 shares changed hands during trading, an increase of 147% from the average daily volume of 200,498 shares. The stock had previously closed at C$0.12.

ShaMaran Petroleum Price Performance

The firm has a market cap of C$383.40 million, a price-to-earnings ratio of -3.75 and a beta of 1.14. The company has a current ratio of 4.05, a quick ratio of 1.07 and a debt-to-equity ratio of 148.75. The company has a 50 day moving average of C$0.12 and a 200 day moving average of C$0.09.

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

Insiders Place Their Bets

In other news, Director William A.W. Lundin bought 501,500 shares of the stock in a transaction on Monday, December 23rd. The stock was purchased at an average price of C$0.12 per share, for a total transaction of C$60,180.00. Corporate insiders own 25.89% of the company’s stock.

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.