Alvopetro Energy (CVE:ALV) Reaches New 1-Year High – Here’s Why

Alvopetro Energy Ltd. (CVE:ALV)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$10.60 and last traded at C$10.62, with a volume of 86075 shares. The stock had previously closed at C$10.14.

Alvopetro Energy Stock Up 4.7%

The company has a debt-to-equity ratio of 24.57, a quick ratio of 1.95 and a current ratio of 1.47. The firm has a market capitalization of C$396.21 million, a PE ratio of 14.35 and a beta of -0.73. The company has a fifty day moving average price of C$9.47 and a 200-day moving average price of C$8.91.

Insider Buying and Selling

In other Alvopetro Energy news, Director Corey Christopher Ruttan sold 15,000 shares of Alvopetro Energy stock in a transaction on Thursday, August 13th. The shares were sold at an average price of C$9.90, for a total value of C$148,500.00. Following the completion of the transaction, the director directly owned 913,583 shares of the company’s stock, valued at C$9,044,471.70. This trade represents a 1.62% decrease in their position. Also, Director John David Wright sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of C$8.60, for a total transaction of C$86,000.00. Following the completion of the sale, the director owned 23,367 shares in the company, valued at approximately C$200,956.20. This trade represents a 29.97% decrease in their ownership of the stock. Over the last 90 days, insiders have sold 69,100 shares of company stock worth $651,092. Insiders own 19.35% of the company’s stock.

About Alvopetro Energy

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.