Alvopetro Energy (OTCMKTS:ALVOF) Upgraded to Strong-Buy at Zacks Research

Alvopetro Energy (OTCMKTS:ALVOF) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday, Zacks reports.

Alvopetro Energy Trading Up 2.9%

Shares of ALVOF opened at $7.80 on Tuesday. Alvopetro Energy has a 52-week low of $4.22 and a 52-week high of $7.97. The business’s fifty day moving average is $6.83 and its 200-day moving average is $6.46. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.68 and a current ratio of 1.68. The firm has a market cap of $290.94 million, a price-to-earnings ratio of 10.54 and a beta of -0.18.

Alvopetro Energy (OTCMKTS:ALVOF) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Alvopetro Energy had a return on equity of 28.58% and a net margin of 42.13%.The company had revenue of $19.18 million during the quarter, compared to analysts’ expectations of $18.54 million. Equities analysts anticipate that Alvopetro Energy will post 0.9 EPS for the current fiscal year.

About Alvopetro Energy

Alvopetro Energy Inc (OTCMKTS: ALVOF) is a Canada-based oil and gas exploration and production company focused on acquiring and developing upstream assets in Brazil. The company targets conventional hydrocarbon resources through a combination of license acquisitions, seismic appraisal and drilling operations, seeking to build a sustainable production profile in emerging Brazilian basins.

Alvopetro’s principal activities are centered in the Potiguar Basin of northeastern Brazil, where it holds working interests in both onshore and shallow-water concession areas.