ShaMaran Petroleum (CVE:SNM) Shares Down 8% – Time to Sell?

ShaMaran Petroleum Corp. (CVE:SNM) shares dropped 8% during trading on Wednesday . The company traded as low as C$0.12 and last traded at C$0.12. Approximately 294,070 shares traded hands during mid-day 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 stock has a market capitalization of C$326.60 million, a P/E ratio of -3.75 and a beta of 1.14. The company’s fifty day simple moving average is C$0.11 and its two-hundred day simple moving average is 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.

ShaMaran Petroleum (CVE:SNM) last released its quarterly 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 analysts forecast that ShaMaran Petroleum Corp. will post 0.0271318 EPS for the current year.

Insider Activity

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