ShaMaran Petroleum (CVE:SNM) Share Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• ShaMaran Petroleum Corp. shares surpass their 200-day moving average, reaching C$0.22 during trading, indicating potential upward momentum.
• The company has a debt-to-equity ratio of 100.09 and a market capitalization of C$631.19 million, showcasing its financial health and stability in the oil and gas sector.
• ShaMaran is engaged in oil and gas exploration in the Kurdistan region of Iraq, holding interests in multiple production sharing contracts.

ShaMaran Petroleum Corp. (CVE:SNM - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$0.21 and traded as high as C$0.22. ShaMaran Petroleum shares last traded at C$0.22, with a volume of 65,348 shares traded.

ShaMaran Petroleum Stock Down 4.4%

The company has a current ratio of 4.89, a quick ratio of 1.07 and a debt-to-equity ratio of 100.09. The business has a 50-day moving average price of C$0.22 and a 200-day moving average price of C$0.21. The firm has a market cap of C$616.84 million, a P/E ratio of 7.17 and a beta of 1.23.

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.