Petrel Resources (LON:PET) Shares Up 5.6% – Should You Buy?

Petrel Resources Plc (LON:PETGet Free Report)’s share price rose 5.6% on Monday . The stock traded as high as GBX 0.74 and last traded at GBX 0.74. Approximately 15,273 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 163,775 shares. The stock had previously closed at GBX 0.70.

Petrel Resources Stock Up 5.6%

The company has a 50 day simple moving average of GBX 0.71 and a 200-day simple moving average of GBX 0.80. The stock has a market cap of £1.53 million, a price-to-earnings ratio of -2.31 and a beta of 0.57.

Petrel Resources Company Profile

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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. Petrel Resources Plc was incorporated in 1982 and is based in Dublin, Ireland.

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