Alvopetro Energy (CVE:ALV) Trading 2.6% Higher – Here’s Why

Shares of Alvopetro Energy Ltd. (CVE:ALV) rose 2.6% on Monday . The company traded as high as C$9.29 and last traded at C$8.91. 84,030 shares were traded during trading, an increase of 61% from the average session volume of 52,145 shares. The stock had previously closed at C$8.68.

Alvopetro Energy Price Performance

The company has a quick ratio of 1.95, a current ratio of 1.68 and a debt-to-equity ratio of 26.18. The company has a fifty day simple moving average of C$8.70 and a 200 day simple moving average of C$8.24. The firm has a market capitalization of C$341.08 million, a P/E ratio of 13.94 and a beta of -0.75.

Insider Activity

In related news, insider Adrian Audet sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, June 19th. The stock was sold at an average price of C$9.00, for a total value of C$45,000.00. Following the transaction, the insider directly owned 134,179 shares of the company’s stock, valued at approximately C$1,207,611. This represents a 3.59% decrease in their position. Also, insider Alison Leanne Howard sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of C$8.51, for a total value of C$212,750.00. Following the completion of the transaction, the insider directly owned 271,787 shares in the company, valued at C$2,312,907.37. This trade represents a 8.42% decrease in their ownership of the stock. Insiders sold a total of 208,025 shares of company stock valued at $1,773,420 over the last ninety days. 19.35% of the stock is currently owned by corporate insiders.

Alvopetro Energy Company Profile

Alvopetro Energy Ltd. operates as an independent upstream and midstream operator. It engages in the acquisition, exploration, development, and production of hydrocarbons. The company holds interests in the Caburé and Murucututu natural gas assets, Block 182 and 183 exploration assets, and Bom Lugar and Mãe-da-lua oil fields, which covers an area of approximately 22,166 acres in the Recôncavo basin onshore Brazil. Alvopetro Energy Ltd. was incorporated in 2013 and is headquartered in Calgary, Canada.