Trio Petroleum (NYSEAMERICAN:TPET) Stock Price Down 3.7% – Here’s Why

Trio Petroleum Corp. (NYSEAMERICAN:TPET) dropped 3.7% during mid-day trading on Tuesday . The stock traded as low as $1.28 and last traded at $1.31. Approximately 228,119 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 5,350,053 shares. The stock had previously closed at $1.36.

Trio Petroleum Stock Down 3.7 %

The stock has a market capitalization of $8.82 million, a price-to-earnings ratio of -0.30 and a beta of -7.73.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Trio Petroleum stock. Integrity Wealth Advisors Inc. purchased a new position in shares of Trio Petroleum Corp. (NYSEAMERICAN:TPET) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 29,000 shares of the company’s stock, valued at approximately $35,000. Integrity Wealth Advisors Inc. owned about 0.43% of Trio Petroleum at the end of the most recent reporting period. 0.34% of the stock is currently owned by institutional investors.

About Trio Petroleum

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.