Trio Petroleum Corp. [TPET] Revenue clocked in at $0.00 million, down -72.75% YTD: What’s Next?

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Trio Petroleum Corp. [AMEX: TPET] gained 27.81% or 0.14 points to close at $0.62 with a heavy trading volume of 16832098 shares. The company report on October 23, 2023 at 8:00 AM that Trio Petroleum Corp Announces an Option to Acquire a 40 BCF Potential Natural Gas Prospect in the Sacramento Basin, California.

The prospect is close to prolific gas fields, has easy access to a gas pipeline with excess capacity and targets gas sands at about 8,000 feet. The prospect is based on 3D seismic data. During the Option period the Company will finalize due diligence including on geophysical, legal, lease, title, pipeline, market, and permit matters. The prospect is fully leased and permitting for an exploration well is in an advanced stage.

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It opened the trading session at $0.52, the shares rose to $0.74 and dropped to $0.52, the range by which the price of stock traded the whole day. The daily chart for TPET points out that the company has recorded -71.23% loss over the past six months. However, it is still -138.46% lower than its most recent low trading price.

If we look at the average trading volume of 329.76K shares, TPET reached to a volume of 16832098 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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Here is what top equities market gurus are saying about Trio Petroleum Corp. [TPET]:

The Average True Range (ATR) for Trio Petroleum Corp. is set at 0.08 The Price to Book ratio for the last quarter was 1.78, with the Price to Cash per share for the same quarter was set at 0.05.

Trading performance analysis for TPET stock

Trio Petroleum Corp. [TPET] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 128.01. With this latest performance, TPET shares gained by 8.53% in over the last four-week period, additionally sinking by -71.23% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TPET stock in for the last two-week period is set at 63.39, with the RSI for the last a single of trading hit 72.18, and the three-weeks RSI is set at 56.74 for Trio Petroleum Corp. [TPET]. The present Moving Average for the last 50 days of trading for this stock 0.5393, while it was recorded at 0.4259 for the last single week of trading.

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Trio Petroleum Corp. [TPET]: A deeper dive into fundamental analysis

Return on Total Capital for TPET is now -10.12, given the latest momentum, and Return on Invested Capital for the company is -111.22. Return on Equity for this stock declined to -111.22, with Return on Assets sitting at -43.88. When it comes to the capital structure of this company, Trio Petroleum Corp. [TPET] has a Total Debt to Total Equity ratio set at 198.63. Additionally, TPET Total Debt to Total Capital is recorded at 66.51, with Total Debt to Total Assets ending up at 57.15.

Trio Petroleum Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.98 and a Current Ratio set at 1.98.

An analysis of Institutional ownership at Trio Petroleum Corp. [TPET]

The top three institutional holders of TPET stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in TPET stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in TPET stock with ownership which is approximately 5.7994%.

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