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

ShaMaran Petroleum Corp. (CVE:SNM) shares shot up 8.3% during mid-day trading on Wednesday . The company traded as high as C$0.13 and last traded at C$0.13. 495,942 shares changed hands during trading, an increase of 147% from the average session volume of 200,498 shares. The stock had previously closed at C$0.12.

ShaMaran Petroleum Stock Performance

The firm has a market capitalization of C$340.80 million, a price-to-earnings ratio of -3.75 and a beta of 1.14. The firm’s 50 day simple moving average is C$0.12 and its 200 day simple moving average is C$0.09. The company has a debt-to-equity ratio of 148.75, a quick ratio of 1.07 and a current ratio of 4.05.

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

Insiders Place Their Bets

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

About ShaMaran Petroleum

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.