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

StockNews.com assumed coverage on shares of PEDEVCO (NYSE:PED) in a research note published on Thursday morning. The brokerage issued a sell rating on the stock.

Separately, Alliance Global Partners assumed coverage on shares of PEDEVCO in a report on Wednesday, July 17th. They issued a buy rating and a $1.75 price target on the stock.

PEDEVCO Trading Up 4.9 %

Shares of PED stock traded up $0.04 on Thursday, reaching $0.94. The company’s stock had a trading volume of 8,503 shares, compared to its average volume of 100,263. The stock’s fifty day simple moving average is $0.94 and its 200-day simple moving average is $0.87. PEDEVCO has a 1 year low of $0.61 and a 1 year high of $1.13.

PEDEVCO (NYSE:PED) last released its quarterly earnings results on Wednesday, August 14th. The company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. PEDEVCO had a net margin of 1.12% and a return on equity of 0.38%. The firm had revenue of $11.81 million during the quarter, compared to analysts’ expectations of $9.05 million. Sell-side analysts anticipate that PEDEVCO will post 0.06 earnings per share for the current fiscal year.

About PEDEVCO

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.