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

Shares of Trio Petroleum Corp. (NYSEAMERICAN:TPET) 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 Friday, August 28th.

Trio Petroleum Stock Performance

NYSEAMERICAN TPET opened at $0.21 on Thursday. Trio Petroleum has a one year low of $0.20 and a one year high of $2.50. The company has a market capitalization of $9.25 million, a price-to-earnings ratio of -0.47 and a beta of -4.76. The company’s 50-day simple moving average is $0.29 and its two-hundred day simple moving average is $0.52.

Trio Petroleum (NYSEAMERICAN:TPET) last announced its quarterly earnings data 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%.

Hedge Funds Weigh In On Trio Petroleum

A hedge fund recently bought a new stake in Trio Petroleum stock. Pinnacle Holdings LLC bought a new stake in Trio Petroleum Corp. (NYSEAMERICAN:TPET) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 156,978 shares of the company’s stock, valued at approximately $2,959,000. Pinnacle Holdings LLC owned approximately 0.35% of Trio Petroleum as of its most recent SEC filing. 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.