Trio Petroleum Corp. (TPET) Stock

Trio Petroleum Corp. (TPET) is a Energy stock trading at $0.20 (as of 2026-08-21), with a market capitalization of $6.52M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Trio Petroleum Corp. is an oil and gas exploration and development company. It holds an 85.75% working interest in the South Salinas project and an option to acquire a 100% working interest in the Union Avenue Field, both in California. The company is headquartered in Bakersfield.

Understand Trio Petroleum Corp.: how it makes money

Trio Petroleum Corp. is an oil and gas exploration and development company, monetizing its assets through its working interests in the South Salinas project and its option to acquire a working interest in the Union Avenue Field.

Its profit model is structurally tied to converting its specific working interests (85.75% in the South Salinas project, plus potential acquisition via the Union Avenue option) into commercially productive oil and gas over time.

Business quality (Weak): The company has clear asset-focused exposure (working interests in two California projects), but the provided dataset shows no segment or operating KPI disclosures, and it reports a deeply negative operating margin for the latest period, which increases uncertainty for retail investors.

Bull case

  • Majority exposure to a defined asset: Trio Petroleum owns an 85.75% working interest in the South Salinas project (approximately 9,300 acres) in Monterey, California.
  • Additional optionality: It also holds an option to acquire a 100% working interest in the Union Avenue Field in Bakersfield, California.

Bear case

  • Material operating losses reported: For the period 2026-01-31, the company reports an operating margin of -658.3%, indicating substantial operating costs relative to revenue in the provided data.
  • Early-stage business profile: The company was incorporated in 2021, which can mean business activities and results may be volatile as projects advance.
  • Concentration risk in specific projects: The business description centers on the South Salinas project working interest and the Union Avenue option, so outcomes may be sensitive to these specific assets.
Valuation — source: SEC EDGAR (first-party)
Price$0.20
Market Cap$6.52M
Price / Book0.19
Price / Sales10.11
FCF Yield-52.0%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$30000.00
Net Margin-24273.8%
Revenue Growth (YoY)123.0%
EPS Growth (YoY)-60.5%
FCF Growth (YoY)-83.3%
Financial Health — source: SEC EDGAR
Altman Z-Score-3.50 (distress)
Valuation vs Sector & Industry
Sector P/E (Energy)16.5
Industry P/E (Petroleum & Natural Gas)16.3
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderGEODE CAPITAL MANAGEMENT, LLC ($79008.00)
Institutional Holders Tracked10
Company
SectorEnergy
IndustryPetroleum & Natural Gas
CEORobin Ross
Employees1
CountryUS
IPO Date2023-04-18

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TPET earnings history · TPET institutional & insider holders · TPET KPIs & operating metrics · TPET financials · TPET investor presentations & press releases · TPET SEC filings · TPET peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.