Trio Petroleum Corp. (NYSEAMERICAN:TPET – Get Free Report) crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $1.73 and traded as high as $1.89. Trio Petroleum shares last traded at $1.81, with a volume of 528,159 shares.
Trio Petroleum Trading Up 10.2%
The firm’s 50-day moving average price is $1.73 and its 200 day moving average price is $4.14.
Trio Petroleum (NYSEAMERICAN:TPET – Get Free Report) last posted its quarterly earnings results on Wednesday, September 9th. The company reported ($0.39) earnings per share for the quarter. Trio Petroleum had a negative net margin of 830.43% and a negative return on equity of 29.90%. The company had revenue of $0.35 million during the quarter.
Institutional Investors Weigh In On Trio Petroleum
A hedge fund recently bought a new stake in Trio Petroleum stock. Cygnus Capital Advisors LLC purchased a new position in shares of Trio Petroleum Corp. (NYSEAMERICAN:TPET – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 859,342 shares of the company’s stock, valued at approximately $266,000. Cygnus Capital Advisors LLC owned about 17.47% of Trio Petroleum as of its most recent filing with the Securities and Exchange Commission (SEC). 0.34% of the stock is currently owned by institutional investors and hedge funds.
About Trio Petroleum
Trio Petroleum Corp. is an independent oil and gas exploration and development company focused on acquiring, evaluating and developing petroleum properties in California. The company’s activities include exploration, drilling, production and the management of oil and natural gas assets.
Trio’s portfolio is centered on properties in California, including the South Salinas Project in Monterey County. The project is located in the Salinas Basin, a region with a history of oil production, and the company has pursued opportunities to assess and develop additional reserves through geological analysis, well work and drilling activities.
Trio Petroleum is listed on the NYSE American under the symbol TPET.
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