Alvopetro Energy (OTCMKTS:ALVOF) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Alvopetro Energy (OTCMKTS:ALVOF) from a hold rating to a strong-buy rating in a report released on Tuesday,Zacks reports.

Alvopetro Energy Stock Up 2.9%

ALVOF opened at $7.80 on Tuesday. The business’s 50-day simple moving average is $6.83 and its 200-day simple moving average is $6.46. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.68 and a current ratio of 1.68. Alvopetro Energy has a one year low of $4.22 and a one year high of $7.97. The stock has a market capitalization of $290.94 million, a P/E ratio of 10.54 and a beta of -0.18.

Alvopetro Energy (OTCMKTS:ALVOF) last posted its earnings results on Wednesday, August 5th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.04. The business had revenue of $19.18 million during the quarter, compared to the consensus estimate of $18.54 million. Alvopetro Energy had a return on equity of 28.58% and a net margin of 42.13%. Analysts anticipate that Alvopetro Energy will post 0.9 EPS for the current year.

Alvopetro Energy Company Profile

Alvopetro Energy Inc (OTCMKTS: ALVOF) is a Canada-based oil and gas exploration and production company focused on acquiring and developing upstream assets in Brazil. The company targets conventional hydrocarbon resources through a combination of license acquisitions, seismic appraisal and drilling operations, seeking to build a sustainable production profile in emerging Brazilian basins.

Alvopetro’s principal activities are centered in the Potiguar Basin of northeastern Brazil, where it holds working interests in both onshore and shallow-water concession areas.