Alvopetro Energy (CVE:ALV) Shares Down 1% - Here's What Happened

Key Points

• Alvopetro Energy's share price declined by 1% during mid-day trading, closing at C$5.79, with volumes dropping 27% from the average daily volume.
• The company announced a quarterly dividend of $0.10 per share, indicating a substantial annualized yield of 6.9% and a payout ratio of 90.68%.
• Recent insider selling included Senior Officer Adrian Audet and Director Corey Christopher Ruttan, who sold a combined total of C$85,130 worth of shares in late June.

Alvopetro Energy Ltd. (CVE:ALV - Get Free Report) fell 1% on Tuesday . The company traded as low as C$5.79 and last traded at C$5.79. 13,375 shares traded hands during mid-day trading, a decline of 27% from the average session volume of 18,264 shares. The stock had previously closed at C$5.85.

Alvopetro Energy Stock Performance

The stock has a fifty day simple moving average of C$6.04 and a two-hundred day simple moving average of C$5.44. The stock has a market cap of C$148.00 million, a PE ratio of 10.81 and a beta of 0.59. The company has a debt-to-equity ratio of 9.27, a quick ratio of 1.95 and a current ratio of 2.10.

Alvopetro Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.8%. Alvopetro Energy's payout ratio is 90.68%.

Insider Buying and Selling at Alvopetro Energy

In other Alvopetro Energy news, Director Corey Christopher Ruttan sold 9,000 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of C$6.57, for a total value of C$59,130.00. Also, Senior Officer Adrian Audet sold 4,000 shares of the company's stock in a transaction that occurred 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. Insiders have sold a total of 32,600 shares of company stock valued at $203,738 in the last three months. Corporate 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.