ShaMaran Petroleum (CVE:SNM) Sets New 12-Month High – Still a Buy?

Shares of ShaMaran Petroleum Corp. (CVE:SNM) hit a new 52-week high during trading on Tuesday . The company traded as high as C$0.18 and last traded at C$0.18, with a volume of 42285 shares trading hands. The stock had previously closed at C$0.17.

ShaMaran Petroleum Price Performance

The company has a market capitalization of C$340.18 million, a P/E ratio of 4.63 and a beta of 1.14. The company has a debt-to-equity ratio of 100.09, a current ratio of 4.89 and a quick ratio of 1.07. The company has a fifty day moving average price of C$0.13 and a 200 day moving average price of C$0.10.

Insider Activity at ShaMaran Petroleum

In other ShaMaran Petroleum news, Director William A.W. Lundin purchased 501,500 shares of the stock in a transaction dated Monday, December 23rd. The shares were bought at an average cost of C$0.12 per share, with a total value of C$60,180.00. Also, Director Garrett Soden sold 11,113,667 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of C$0.15, for a total transaction of C$1,667,050.05. 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.