ShaMaran Petroleum (CVE:SNM) Trading Up 8.3% – Should You Buy?

ShaMaran Petroleum Corp. (CVE:SNM) rose 8.3% 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 company has a 50 day simple moving average of C$0.12 and a two-hundred day simple moving average of C$0.09. The company has a quick ratio of 1.07, a current ratio of 4.05 and a debt-to-equity ratio of 148.75. The company has a market capitalization of C$340.80 million, a P/E ratio of -3.75 and a beta of 1.14.

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

Insiders Place Their Bets

In related news, Director William A.W. Lundin bought 501,500 shares of the stock in a transaction on Monday, December 23rd. The stock was bought at an average price of C$0.12 per share, for a total transaction 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.