StockNews.com Initiates Coverage on PEDEVCO (NYSE:PED)

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

Separately, Alliance Global Partners initiated coverage on shares of PEDEVCO in a research note on Wednesday, July 17th. They issued a buy rating and a $1.75 price objective for the company.

PEDEVCO Price Performance

NYSE PED opened at $1.00 on Monday. PEDEVCO has a fifty-two week low of $0.61 and a fifty-two week high of $1.13. The stock’s 50-day moving average is $0.94 and its two-hundred day moving average is $0.84. The firm has a market cap of $89.29 million, a P/E ratio of 100.10 and a beta of 0.54.

PEDEVCO (NYSE:PED) last issued its quarterly earnings data on Wednesday, May 15th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. The business had revenue of $8.12 million for the quarter, compared to the consensus estimate of $6.47 million. PEDEVCO had a return on equity of 1.31% and a net margin of 3.99%. On average, equities analysts expect that PEDEVCO will post 0.05 EPS for the current year.

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 interests in the Permian Basin asset covering an area of approximately 22,721 net acres located in New Mexico; and D-J Basin asset covering an area of approximately 19,214 net acres located in Wyoming.