Petrel Resources (LON:PET) Stock Passes Below 200 Day Moving Average of $2.03

Petrel Resources PLC (LON:PET) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.03 and traded as low as $6.91. Petrel Resources shares last traded at $7.25, with a volume of 566,587 shares traded.

The business’s 50-day moving average price is GBX 4.30 and its two-hundred day moving average price is GBX 2.03. The company has a market capitalization of $10.83 million and a P/E ratio of -1.45.

About Petrel Resources (LON:PET)

Petrel Resources Plc, together with its subsidiaries, operates as an oil and gas exploration company. The company holds a 15% interest in the Frontier Exploration Licence 3/14 in the Porcupine Basin, Ireland; and owns a 10% interest in licensing option (LO) 16/14 and 100% interests in LO 16/24 and LO 16/25 in Ireland.

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