Cygnus Capital Advisors LLC Makes New Investment in Trio Petroleum Corp. $TPET

Cygnus Capital Advisors LLC acquired a new position in shares of Trio Petroleum Corp. (NYSEAMERICAN:TPET) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 859,342 shares of the company’s stock, valued at approximately $266,000. Cygnus Capital Advisors LLC owned 0.17% of Trio Petroleum as of its most recent filing with the Securities and Exchange Commission.

Trio Petroleum Stock Performance

NYSEAMERICAN TPET opened at $1.76 on Tuesday. The firm has a 50-day simple moving average of $2.38 and a 200 day simple moving average of $4.45. Trio Petroleum Corp. has a twelve month low of $1.68 and a twelve month high of $22.50. The stock has a market cap of $8.66 million, a PE ratio of -0.45 and a beta of -4.79.

Trio Petroleum (NYSEAMERICAN:TPET) last issued its quarterly earnings results on Thursday, June 11th. The company reported ($0.45) earnings per share (EPS) for the quarter. The firm 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%.

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.