Zacks Research Upgrades Alvopetro Energy (OTCMKTS:ALVOF) to “Strong-Buy”

Alvopetro Energy (OTCMKTS:ALVOF) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday, Zacks reports.

Alvopetro Energy Trading Up 2.9%

Shares of ALVOF stock opened at $7.80 on Tuesday. Alvopetro Energy has a 12-month low of $4.22 and a 12-month high of $7.97. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.17. The firm’s 50 day moving average is $6.83 and its 200 day moving average is $6.46. 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 announced its earnings results on Wednesday, August 5th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The business had revenue of $19.18 million during the quarter, compared to analyst estimates of $18.54 million. Alvopetro Energy had a net margin of 42.13% and a return on equity of 28.58%. Research analysts expect that Alvopetro Energy will post 0.9 earnings per share for the current year.

About Alvopetro Energy

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.