Petrel Resources (LON:PET) Shares Up 3.7% – Still a Buy?

Petrel Resources Plc (LON:PET)’s share price traded up 3.7% during trading on Tuesday . The company traded as high as GBX 0.70 ($0.01) and last traded at GBX 0.70 ($0.01). 20,000 shares were traded during mid-day trading, a decline of 96% from the average session volume of 555,653 shares. The stock had previously closed at GBX 0.68 ($0.01).

Petrel Resources Price Performance

The business has a 50 day simple moving average of GBX 0.84 and a 200 day simple moving average of GBX 1.21. The company has a market cap of £1.29 million, a price-to-earnings ratio of -7.17 and a beta of 0.57.

Petrel Resources Company Profile

Petrel Resources Plc, together with its subsidiaries, operates as an oil and gas exploration company. The company holds a 100% interest in the Frontier exploration license 3/14 located in Ireland. It also holds a 30% working interest in the Tano 2A Block covering an area of 1,532 square kilometers in Ghana; and holds interest in the Western Desert Block 6 located in Iraq.