Trio Petroleum (NYSEAMERICAN:TPET) Issues Earnings Results

Trio Petroleum (NYSEAMERICAN:TPET) issued its quarterly earnings results on Wednesday. The company reported ($0.39) earnings per share (EPS) for the quarter, FiscalAI reports. Trio Petroleum had a negative net margin of 934.15% and a negative return on equity of 37.33%. The firm had revenue of $0.35 million for the quarter.

Trio Petroleum Price Performance

Shares of Trio Petroleum stock opened at $1.81 on Thursday. The business has a fifty day simple moving average of $2.34 and a 200-day simple moving average of $4.42. Trio Petroleum has a fifty-two week low of $1.68 and a fifty-two week high of $22.50. The firm has a market cap of $8.91 million, a price-to-earnings ratio of -0.47 and a beta of -4.79.

Institutional Investors Weigh In On Trio Petroleum

A hedge fund recently bought a new stake in Trio Petroleum stock. Cygnus Capital Advisors LLC acquired a new stake in shares of Trio Petroleum Corp. (NYSEAMERICAN:TPET) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 859,342 shares of the company’s stock, valued at approximately $266,000. Cygnus Capital Advisors LLC owned approximately 17.47% of Trio Petroleum at the end of the most recent quarter. 0.34% of the stock is owned by institutional investors and hedge funds.

Trio Petroleum Company Profile

Trio Petroleum Corp. operates as an oil and gas exploration and development company. The company's flagship project comprises the 85.75% owned working interest in the South Salinas project that consists of approximately 9,300-acre located in Monterey, California. It also owns 22% working interest in the McCool Ranch Oil Field located in Monterey County, California; 2% production interest in the Asphalt Ridge project comprises approximately 960 acres located in southwest of Vernal, Utah; and holds an option agreement to acquire 100% working interest in the Union Avenue Field located in Bakersfield, California.