Alvopetro Energy (CVE:ALV) Shares Down 0.1% - What's Next?

Key Points

• Alvopetro Energy's shares fell 0.1%, closing at C$6.81 with trading volume significantly down by 84% from the average.
• The company has announced a quarterly dividend of $0.10 per share, yielding 5.9%, to be paid on October 15th.
• Insiders, including Director Corey Christopher Ruttan, have sold 11,400 shares recently, indicating potential concerns about the company's stock performance.

Shares of Alvopetro Energy Ltd. (CVE:ALV - ) traded down 0.1% during trading on Wednesday . The company traded as low as C$6.81 and last traded at C$6.81. 2,813 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 17,979 shares. The stock had previously closed at C$6.82.

Alvopetro Energy Price Performance

The company has a debt-to-equity ratio of 9.27, a quick ratio of 1.95 and a current ratio of 2.10. The firm has a market cap of C$249.59 million, a price-to-earnings ratio of 11.54 and a beta of -0.93. The company's fifty day moving average is C$6.15 and its two-hundred day moving average is C$5.74.

Alvopetro Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 5.9%. Alvopetro Energy's payout ratio is 64.41%.

Insider Buying and Selling at Alvopetro Energy

In related news, Director Corey Christopher Ruttan sold 9,000 shares of Alvopetro Energy stock in a transaction on Friday, June 27th. The shares were sold at an average price of C$6.57, for a total transaction of C$59,130.00. In the last quarter, insiders have sold 11,400 shares of company stock worth $74,558. Insiders own 19.35% of the company's stock.

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.

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