PEDEVCO (NYSEAMERICAN:PED) Earns Sell Rating from Analysts at StockNews.com

Equities researchers at StockNews.com started coverage on shares of PEDEVCO (NYSEAMERICAN:PED) in a research report issued on Friday. The brokerage set a “sell” rating on the stock.

PEDEVCO Price Performance

Shares of PEDEVCO stock opened at $1.09 on Friday. The firm has a market capitalization of $94.87 million, a P/E ratio of 36.35 and a beta of 1.32. PEDEVCO has a 12-month low of $0.80 and a 12-month high of $1.31. The business’s 50-day moving average price is $0.93.

PEDEVCO (NYSEAMERICAN:PED) last announced its quarterly earnings data on Tuesday, August 15th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04. The firm had revenue of $10.91 million for the quarter, compared to the consensus estimate of $9.48 million. PEDEVCO had a net margin of 11.32% and a return on equity of 3.71%. On average, research analysts forecast that PEDEVCO will post 0.12 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director John J. Scelfo sold 40,000 shares of the stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $0.92, for a total value of $36,800.00. Following the completion of the transaction, the director now owns 224,500 shares of the company’s stock, valued at $206,540. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 71.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd lifted its holdings in shares of PEDEVCO by 44.7% in the first quarter. XTX Topco Ltd now owns 52,091 shares of the company’s stock worth $70,000 after acquiring an additional 16,083 shares during the last quarter. Vanguard Group Inc. raised its holdings in PEDEVCO by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 945,769 shares of the company’s stock valued at $955,000 after buying an additional 19,300 shares during the last quarter. First Republic Investment Management Inc. bought a new position in PEDEVCO in the 1st quarter valued at approximately $28,000. Jane Street Group LLC bought a new position in PEDEVCO in the 1st quarter valued at approximately $30,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in PEDEVCO by 44.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 79,800 shares of the company’s stock valued at $88,000 after buying an additional 24,600 shares during the last quarter. Institutional investors own 3.05% 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. The company is headquartered in Houston, Texas. PEDEVCO Corp. is a subsidiary of SK Energy LLC.