Alvopetro Energy (OTCMKTS:ALVOF) Issues Quarterly Earnings Results, Meets Expectations

Alvopetro Energy (OTCMKTS:ALVOF) announced its earnings results on Thursday. The company reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22, Zacks reports. Alvopetro Energy had a net margin of 42.13% and a return on equity of 27.90%.

Alvopetro Energy Stock Down 3.3%

ALVOF traded down $0.22 on Thursday, hitting $6.36. 56,576 shares of the company were exchanged, compared to its average volume of 29,320. Alvopetro Energy has a twelve month low of $4.22 and a twelve month high of $8.22. The company has a market cap of $237.61 million, a price-to-earnings ratio of 8.59 and a beta of -0.03. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average price of $7.07 and a two-hundred day moving average price of $6.49.

Analyst Upgrades and Downgrades

Separately, Zacks Research cut shares of Alvopetro Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. One analyst has rated the stock with a Hold rating. According to data from MarketBeat, Alvopetro Energy presently has an average rating of “Hold”.

About Alvopetro Energy

Alvopetro Energy Ltd. is a Canadian oil and natural gas company focused on the exploration, development and production of petroleum resources in Brazil. The company’s operations are concentrated in the Reconcavo Basin in the state of Bahia, a mature oil and gas region with established infrastructure and local demand.

Alvopetro’s Brazilian asset portfolio includes interests in the Cabure and Murucututu fields, where it produces natural gas, condensate and oil. The company also owns and operates related midstream infrastructure, including a natural gas processing facility and pipeline assets that connect its production to regional markets.