ShaMaran Petroleum (CVE:SNM) Shares Down 8% – What’s Next?

Shares of ShaMaran Petroleum Corp. (CVE:SNM) traded down 8% during mid-day trading on Wednesday . The stock traded as low as C$0.12 and last traded at C$0.12. 294,070 shares were traded during trading, an increase of 54% from the average session volume of 191,500 shares. The stock had previously closed at C$0.13.

ShaMaran Petroleum Stock Down 8.0 %

The firm has a market capitalization 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 company’s fifty day simple moving average is C$0.11 and its 200-day simple moving average is C$0.09.

ShaMaran Petroleum (CVE:SNM) last issued its quarterly earnings data 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%. On average, analysts forecast that ShaMaran Petroleum Corp. will post 0.0271318 EPS for the current year.

Insider Activity at ShaMaran Petroleum

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