ShaMaran Petroleum (CVE:SNM) Trading Up 13.6% – Here’s What Happened

ShaMaran Petroleum Corp. (CVE:SNM) shot up 13.6% during mid-day trading on Monday . The company traded as high as C$0.16 and last traded at C$0.15. 1,728,256 shares changed hands during trading, an increase of 571% from the average session volume of 257,441 shares. The stock had previously closed at C$0.13.

ShaMaran Petroleum Trading Down 3.1 %

The company has a quick ratio of 1.07, a current ratio of 4.05 and a debt-to-equity ratio of 148.75. The company has a market capitalization of C$440.20 million, a P/E ratio of -3.75 and a beta of 1.14. The firm’s 50-day moving average price is C$0.12 and its 200 day moving average price is C$0.09.

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 return on equity of 7.04% and a negative net margin of 12.93%. As a group, equities research analysts predict that ShaMaran Petroleum Corp. will post 0.0271318 earnings per share for the current year.

Insiders Place Their Bets

In other ShaMaran Petroleum news, Director William A.W. Lundin bought 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, for a total transaction of C$60,180.00. Insiders own 25.89% of the company’s stock.

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.