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

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

ShaMaran Petroleum Stock Performance

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 cap of C$326.60 million, a PE ratio of -3.75 and a beta of 1.14. The business’s fifty day moving average price is C$0.11 and its 200-day moving average price is C$0.09.

ShaMaran Petroleum (CVE:SNM) last released its earnings results on Thursday, November 7th. The company reported C$0.04 EPS 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 research analysts forecast that ShaMaran Petroleum Corp. will post 0.0271318 EPS for the current fiscal year.

Insider Activity

In related news, Director William A.W. Lundin acquired 501,500 shares of ShaMaran Petroleum stock in a transaction dated Monday, December 23rd. The shares were purchased at an average price of C$0.12 per share, for a total transaction of C$60,180.00. Company 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.