Trio Petroleum (NYSEAMERICAN:TPET) Trading 3% Higher – Here’s Why

Shares of Trio Petroleum Corp. (NYSEAMERICAN:TPET) were up 3% during trading on Tuesday . The stock traded as high as $0.31 and last traded at $0.3099. Approximately 1,103,687 shares changed hands during trading, a decline of 73% from the average session volume of 4,071,954 shares. The stock had previously closed at $0.3010.

Trio Petroleum Trading Up 3.0%

The stock has a market capitalization of $13.72 million, a P/E ratio of -0.72 and a beta of -4.93. The stock’s fifty day moving average price is $0.39 and its two-hundred day moving average price is $0.66.

Trio Petroleum (NYSEAMERICAN:TPET) last released its earnings results on Thursday, June 11th. The company reported ($0.05) EPS for the quarter. The business 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%.

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.