Alvopetro Energy (CVE:ALV) Stock Price Up 4.6% - Should You Buy?

Key Points

• Shares of Alvopetro Energy Ltd. (CVE:ALV) increased by 4.6% to reach C$6.59, with trading volume significantly up by 86% compared to the average daily volume.
• The company declared a $0.10 quarterly dividend, yielding 6.1% annually, with a dividend payout ratio of 64.41%.
• Insider trading activity included a sale of 9,000 shares by Director Corey Ruttan and 4,000 shares by Senior Officer Adrian Audet, totaling over $85,000 in transactions.

Shares of Alvopetro Energy Ltd. (CVE:ALV - ) rose 4.6% on Wednesday . The stock traded as high as C$6.59 and last traded at C$6.59. Approximately 34,266 shares traded hands during mid-day trading, an increase of 86% from the average daily volume of 18,431 shares. The stock had previously closed at C$6.30.

Alvopetro Energy Stock Up 4.6%

The company has a 50 day moving average price of C$5.93 and a two-hundred day moving average price of C$5.53. The company has a debt-to-equity ratio of 9.27, a current ratio of 2.10 and a quick ratio of 1.95. The stock has a market cap of C$241.52 million, a PE ratio of 11.17 and a beta of -0.91.

Alvopetro Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 6.1%. Alvopetro Energy's dividend payout ratio is currently 64.41%.

Insiders Place Their Bets

In related news, Director Corey Christopher Ruttan sold 9,000 shares of the company's stock in a transaction on Friday, June 27th. The stock was sold at an average price of C$6.57, for a total transaction of C$59,130.00. Also, Senior Officer Adrian Audet sold 4,000 shares of the company's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of C$6.50, for a total value of C$26,000.00. In the last quarter, insiders have sold 15,800 shares of company stock valued at $103,358. 19.35% of the stock is owned by company insiders.

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.

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