Trio Petroleum (NYSEAMERICAN:TPET) Issues Quarterly Earnings Results

Trio Petroleum (NYSEAMERICAN:TPET) posted its earnings results on Thursday. The company reported ($0.05) earnings per share for the quarter, FiscalAI reports. Trio Petroleum had a negative return on equity of 51.89% and a negative net margin of 1,312.38%.The company had revenue of $0.21 million during the quarter.

Trio Petroleum Price Performance

TPET traded down $0.05 on Thursday, hitting $0.35. The company had a trading volume of 9,629,754 shares, compared to its average volume of 22,189,646. The company’s fifty day moving average price is $0.48 and its 200 day moving average price is $0.72. The stock has a market cap of $11.67 million, a price-to-earnings ratio of -0.57 and a beta of -4.93. Trio Petroleum has a 1-year low of $0.34 and a 1-year high of $2.50.

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.