ShaMaran Petroleum (CVE:SNM) Stock Price Up 8.3% – Still a Buy?

ShaMaran Petroleum Corp. (CVE:SNM) traded 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 Price Performance

The company has a 50-day moving average of C$0.12 and a 200-day moving average of 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. The stock has a market cap of C$340.80 million, a price-to-earnings ratio of -3.75 and a beta of 1.14.

ShaMaran Petroleum (CVE:SNM) last announced its earnings results on Thursday, November 7th. The company reported C$0.04 earnings per share 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 research analysts predict that ShaMaran Petroleum Corp. will post 0.0271318 earnings per share for the current year.

Insiders Place Their Bets

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