ShaMaran Petroleum (CVE:SNM) Shares Down 8% – Time to Sell?

ShaMaran Petroleum Corp. (CVE:SNM) shares dropped 8% on Wednesday . The stock traded as low as C$0.12 and last traded at C$0.12. Approximately 294,070 shares changed hands during trading, an increase of 54% from the average daily volume of 191,500 shares. The stock had previously closed at C$0.13.

ShaMaran Petroleum Price Performance

The firm has a market cap of C$326.60 million, a PE 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 business’s fifty day moving average is C$0.12 and its 200-day moving average is C$0.09.

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%. On average, research analysts predict that ShaMaran Petroleum Corp. will post 0.0271318 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director William A.W. Lundin purchased 501,500 shares of ShaMaran Petroleum stock in a transaction dated Monday, December 23rd. The stock was bought at an average cost of C$0.12 per share, for a total transaction of C$60,180.00. 25.89% of the stock is currently 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.