PEDEVCO (NYSE:PED) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of PEDEVCO (NYSE:PED) in a research report released on Wednesday morning. The brokerage issued a sell rating on the stock.

PEDEVCO Stock Performance

Shares of PEDEVCO stock opened at $0.89 on Wednesday. The company has a fifty day moving average of $0.77 and a 200 day moving average of $0.81. The company has a market capitalization of $79.53 million, a P/E ratio of 42.00 and a beta of 0.51. PEDEVCO has a fifty-two week low of $0.61 and a fifty-two week high of $1.13.

PEDEVCO (NYSE:PED) last released its quarterly earnings data on Friday, March 15th. The company reported ($0.05) earnings per share (EPS) for the quarter. The firm had revenue of $6.74 million during the quarter, compared to the consensus estimate of $6.39 million. PEDEVCO had a return on equity of 2.31% and a net margin of 6.97%. Analysts forecast that PEDEVCO will post 0.03 EPS for the current year.

Insider Buying and Selling at PEDEVCO

In other news, VP Moore Clark sold 45,000 shares of the business’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $0.66, for a total value of $29,700.00. Following the sale, the vice president now directly owns 555,334 shares in the company, valued at approximately $366,520.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, President John Douglas Schick sold 58,333 shares of the stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $0.64, for a total transaction of $37,333.12. Following the sale, the president now owns 780,467 shares in the company, valued at approximately $499,498.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Moore Clark sold 45,000 shares of the stock in a transaction on Friday, January 19th. The shares were sold at an average price of $0.66, for a total transaction of $29,700.00. Following the completion of the sale, the vice president now directly owns 555,334 shares in the company, valued at approximately $366,520.44. The disclosure for this sale can be found here. Insiders sold 319,300 shares of company stock worth $206,411 over the last 90 days. 71.10% of the stock is owned by insiders.

Hedge Funds Weigh In On PEDEVCO

An institutional investor recently raised its position in PEDEVCO stock. Northern Trust Corp raised its holdings in shares of PEDEVCO Corp. (NYSE:PED) by 38.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,342 shares of the company’s stock after buying an additional 15,770 shares during the period. Northern Trust Corp owned about 0.06% of PEDEVCO worth $43,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 3.26% of the company’s stock.

PEDEVCO Company Profile

PEDEVCO Corp., an oil and gas company, focuses on the acquisition, development, and production of oil and natural gas assets in the United States. It holds interest in the Permian Basin asset with approximately 22,271 net acres located in New Mexico, the United States; and D-J Basin asset with approximately 19,214 net acres located in Wyoming, the United States.