Trio Petroleum (NYSEAMERICAN:TPET) Trading Up 3.2% – Here’s What Happened

Trio Petroleum Corp. (NYSEAMERICAN:TPET)’s stock price shot up 3.2% during mid-day trading on Monday . The company traded as high as $1.30 and last traded at $1.28. 115,746 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 2,272,931 shares. The stock had previously closed at $1.24.

Trio Petroleum Price Performance

The firm has a market cap of $8.61 million, a price-to-earnings ratio of -0.29 and a beta of -7.73. The business has a 50-day moving average of $1.32 and a 200-day moving average of $1.19.

Hedge Funds Weigh In On Trio Petroleum

A hedge fund recently bought a new stake in Trio Petroleum stock. Integrity Wealth Advisors Inc. acquired a new stake in Trio Petroleum Corp. (NYSEAMERICAN:TPET) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 29,000 shares of the company’s stock, valued at approximately $35,000. Integrity Wealth Advisors Inc. owned 0.43% of Trio Petroleum at the end of the most recent reporting period. 0.34% of the stock is owned by institutional investors and hedge funds.

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.