ShaMaran Petroleum (CVE:SNM) Trading Up 17.4% – Here’s What Happened

ShaMaran Petroleum Corp. (CVE:SNM)’s stock price shot up 17.4% during mid-day trading on Monday . The company traded as high as C$0.16 and last traded at C$0.16. 1,018,256 shares traded hands during trading, an increase of 330% from the average session volume of 236,737 shares. The stock had previously closed at C$0.13.

ShaMaran Petroleum Stock Up 13.6 %

The business 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 capitalization of C$426 million, a price-to-earnings ratio of -3.75 and a beta of 1.14.

ShaMaran Petroleum (CVE:SNM) last issued its quarterly earnings data 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, sell-side analysts expect that ShaMaran Petroleum Corp. will post 0.0271318 EPS for the current year.

Insider Buying and Selling at ShaMaran Petroleum

In other 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 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.