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

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 were traded during mid-day 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 Trading Up 3.8 %

The company has a market capitalization of C$383.40 million, a P/E ratio of -3.75 and a beta of 1.14. The company has a debt-to-equity ratio of 148.75, a current ratio of 4.05 and a quick ratio of 1.07. The firm has a fifty 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 (EPS) for the quarter. ShaMaran Petroleum had a negative return on equity of 7.04% and a negative net margin of 12.93%. On average, equities research analysts anticipate that ShaMaran Petroleum Corp. will post 0.0271318 earnings per share for the current year.

Insider Activity

In other news, Director William A.W. Lundin acquired 501,500 shares of ShaMaran Petroleum stock in a transaction on Monday, December 23rd. The stock was acquired 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 currently owned by corporate insiders.

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.