Alvopetro Energy (CVE:ALV) Trading Up 2.6% – Still a Buy?

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

Alvopetro Energy Price Performance

The company has a 50 day simple moving average of C$8.69 and a 200 day simple moving average of C$8.22. The company has a market capitalization of C$330.33 million, a price-to-earnings ratio of 13.50 and a beta of -0.75. The company has a quick ratio of 1.95, a current ratio of 1.68 and a debt-to-equity ratio of 26.18.

Insider Transactions at Alvopetro Energy

In related news, Director John David Wright sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were 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 of the company’s stock, valued at approximately C$200,956.20. This represents a 29.97% decrease in their position. Also, insider Adrian Audet sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 19th. The shares were sold at an average price of C$9.00, for a total transaction of C$45,000.00. Following the completion of the transaction, the insider owned 134,179 shares in the company, valued at C$1,207,611. The trade was a 3.59% decrease in their position. Insiders have sold a total of 256,525 shares of company stock worth $2,189,810 over the last 90 days. Company 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.