Trio Petroleum Shares Scheduled to Reverse Split on Monday, August 31st (NYSEAMERICAN:TPET)

Trio Petroleum Corp. (NYSEAMERICAN:TPET – Free Report) shares are set to reverse split on the morning of Monday, August 31st. The 1-9 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, August 30th.

Trio Petroleum Trading Down 19.5%

NYSEAMERICAN TPET traded down $0.05 during trading hours on Wednesday, hitting $0.20. The company’s stock had a trading volume of 2,198,469 shares, compared to its average volume of 16,432,141. Trio Petroleum has a 52 week low of $0.20 and a 52 week high of $2.50. The company has a market capitalization of $9.06 million, a PE ratio of -0.48 and a beta of -4.75. The company’s 50-day simple moving average is $0.29 and its two-hundred day simple moving average is $0.52.

Get Trio Petroleum alerts:

Trio Petroleum (NYSEAMERICAN:TPET – Get Free Report) last released its quarterly earnings results on Thursday, June 11th. The company reported ($0.05) earnings per share (EPS) for the quarter. The company had revenue of $0.21 million for the quarter. Trio Petroleum had a negative net margin of 934.15% and a negative return on equity of 37.33%.

Hedge Funds Weigh In On Trio Petroleum

A hedge fund recently bought a new position in Trio Petroleum stock. Pinnacle Holdings LLC acquired a new position in Trio Petroleum Corp. (NYSEAMERICAN:TPET – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 156,978 shares of the company’s stock, valued at approximately $2,959,000. Pinnacle Holdings LLC owned about 0.35% of Trio Petroleum at the end of the most recent quarter. Institutional investors and hedge funds own 0.34% of the company’s stock.

Trio Petroleum Company Profile

(Get Free Report)

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.

Featured Stories

• Five stocks we like better than Trio Petroleum
• Bloom Energy’s AI Surge Meets a Valuation Reality Check
• Target Is Winning Shoppers Back—Can the Rally Reach $180?
• IonQ’s Space Contract Points to a New Frontier for Quantum Investors
• Is Apple’s AI Strategy Smarter Than Skeptics Think?

Receive News & Ratings for Trio Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trio Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.