Trio Petroleum Corp. (NYSE American: TPET) is an oil and gas exploration and development company primarily operating in Monterey County, California, and Uintah County, Utah. The company was incorporated in July 2021 and focuses on projects such as the South Salinas Project, McCool Ranch Oil Field, and Asphalt Ridge Project.1
Business Trajectory:
Trio Petroleum Corp. began revenue-generating operations on February 22, 2024, with the restart of the McCool Ranch Oil Field. For the fiscal year ended October 31, 2024, the company recorded approximately $200,000 in net revenues from this field.1 The company's growth strategy includes developing its existing assets and acquiring new oil and gas projects that offer immediate cash flow or significant growth potential.1 Trio Petroleum has also expanded its interests by forming Trio Petroleum Canada, Corp. in March 2025.1
Stock Price Trajectory:
TPET's stock has experienced a significant decline over the past year. On August 8, 2024, the share price was $5.21. By August 7, 2025, it had fallen to $1.14 per share, representing a decline of 78.13% over that period.2 More recently, the stock was trading at $1.30 per share on April 25, 2025, and $1.26 per share on May 13, 2025.1
Institutional Ownership:
Despite the stock price trajectory, institutional interest has shown some recent growth. As of a recent Fintel update, Trio Petroleum Corp. has 16 institutional owners, holding a total of 329,957 shares. This represents a 4.39% institutional ownership (excluding 13D/G filings). In the most recent quarter, the number of institutional owners increased by 45.45%, and institutional shares (long) increased by 308.92%.2 Major institutional shareholders include UBS Group AG, Vanguard Group Inc, and Geode Capital Management, LLC.2
Risk Factors:
It is important to note that investing in TPET securities involves a high degree of risk.1
