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

ShaMaran Petroleum Corp. (CVE:SNM) was up 8.3% on Wednesday . The company traded as high as C$0.13 and last traded at C$0.13. Approximately 495,942 shares traded hands 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 Stock Performance

The firm has a market cap of C$340.80 million, a P/E ratio of -3.75 and a beta of 1.14. The stock’s 50 day moving average is C$0.12 and its two-hundred day moving average is C$0.09. The company has a debt-to-equity ratio of 148.75, a current ratio of 4.05 and a quick ratio of 1.07.

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

Insider Activity at ShaMaran Petroleum

In other news, Director William A.W. Lundin acquired 501,500 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were purchased 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 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.