Trio Petroleum (NYSEAMERICAN:TPET) Issues Quarterly Earnings Results

Trio Petroleum (NYSEAMERICAN:TPET) announced its quarterly earnings data on Wednesday. The company reported ($0.39) EPS for the quarter, FiscalAI reports. Trio Petroleum had a negative return on equity of 36.52% and a negative net margin of 830.43%.The firm had revenue of $0.35 million during the quarter.

Trio Petroleum Price Performance

TPET opened at $2.02 on Friday. The firm has a 50 day simple moving average of $2.33 and a 200 day simple moving average of $4.41. Trio Petroleum has a fifty-two week low of $1.68 and a fifty-two week high of $22.50. The company has a market cap of $9.94 million, a price-to-earnings ratio of -0.74 and a beta of -4.79.

Hedge Funds Weigh In On Trio Petroleum

A hedge fund recently bought a new position in Trio Petroleum stock. Cygnus Capital Advisors LLC purchased a new stake in Trio Petroleum Corp. (NYSEAMERICAN:TPET) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period. Institutional investors own 0.34% of the company’s stock.

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.