ShaMaran Petroleum (CVE:SNM) Shares Down 8% – Here’s What Happened

ShaMaran Petroleum Corp. (CVE:SNM) fell 8% during trading on Wednesday . The company traded as low as C$0.12 and last traded at C$0.12. 294,070 shares were traded during mid-day 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 Trading Down 8.0 %

The company has a current ratio of 4.05, a quick ratio of 1.07 and a debt-to-equity ratio of 148.75. The firm has a 50-day moving average of C$0.11 and a 200 day moving average of C$0.09. The company has a market cap of C$326.60 million, a P/E ratio of -3.75 and a beta of 1.14.

ShaMaran Petroleum (CVE:SNM) last announced 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 return on equity of 7.04% and a negative net margin of 12.93%. On average, analysts predict that ShaMaran Petroleum Corp. will post 0.0271318 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director William A.W. Lundin acquired 501,500 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was purchased at an average price of C$0.12 per share, for a total transaction of C$60,180.00. 25.89% of the stock is currently owned by company insiders.

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.