Alvopetro Energy (CVE:ALV) Reaches New 52-Week High – Here’s Why

Alvopetro Energy Ltd. (CVE:ALV)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as C$10.60 and last traded at C$10.62, with a volume of 86075 shares changing hands. The stock had previously closed at C$10.14.

Alvopetro Energy Stock Performance

The firm has a market capitalization of C$395.09 million, a P/E ratio of 14.31 and a beta of -0.73. The company has a debt-to-equity ratio of 24.57, a current ratio of 1.47 and a quick ratio of 1.95. The firm has a 50-day moving average price of C$9.54 and a two-hundred day moving average price of C$8.95.

Insider Activity

In other news, Director Corey Christopher Ruttan sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of C$9.90, for a total transaction of C$148,500.00. Following the transaction, the director directly owned 913,583 shares of the company’s stock, valued at approximately C$9,044,471.70. This trade represents a 1.62% decrease in their ownership of the stock. Also, insider Adrian Audet sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 19th. The stock was sold at an average price of C$9.00, for a total transaction of C$45,000.00. Following the transaction, the insider directly owned 134,179 shares in the company, valued at approximately C$1,207,611. This trade represents a 3.59% decrease in their ownership of the stock. Over the last three months, insiders sold 59,100 shares of company stock valued at $565,092. 19.35% of the stock is owned by corporate insiders.

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. Alvopetro Energy Ltd. was incorporated in 2013 and is headquartered in Calgary, Canada.