Trio Petroleum (NYSEAMERICAN:TPET) Announces Quarterly Earnings Results

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

Trio Petroleum Stock Up 2.8%

Shares of NYSEAMERICAN:TPET opened at $1.81 on Wednesday. The business has a fifty day simple moving average of $2.36 and a 200 day simple moving average of $4.44. Trio Petroleum has a 12-month low of $1.68 and a 12-month high of $22.50. The firm has a market cap of $8.91 million, a P/E ratio of -0.47 and a beta of -4.79.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Trio Petroleum stock. Cygnus Capital Advisors LLC acquired a new stake in Trio Petroleum Corp. (NYSEAMERICAN:TPET) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund 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 as of its most recent SEC filing. 0.34% of the stock is currently owned by institutional investors.

About Trio Petroleum

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.