PEDEVCO (NYSE:PED) Coverage Initiated by Analysts at StockNews.com

Investment analysts at StockNews.com began coverage on shares of PEDEVCO (NYSE:PED) in a note issued to investors on Wednesday. The firm set a “sell” rating on the stock.

PEDEVCO Price Performance

Shares of PED opened at $0.85 on Wednesday. PEDEVCO has a one year low of $0.61 and a one year high of $1.13. The company has a market cap of $75.51 million, a P/E ratio of 42.27 and a beta of 0.51. The firm has a 50 day simple moving average of $0.76 and a two-hundred day simple moving average of $0.81.

PEDEVCO (NYSE:PED) last announced its quarterly earnings results on Friday, March 15th. The company reported ($0.05) earnings per share (EPS) for the quarter. The company had revenue of $6.74 million for the quarter, compared to analyst estimates of $6.39 million. PEDEVCO had a return on equity of 2.31% and a net margin of 6.97%. On average, analysts expect that PEDEVCO will post 0.03 earnings per share for the current fiscal year.

Insider Transactions at PEDEVCO

In other news, President John Douglas Schick sold 41,667 shares of the company’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $0.66, for a total transaction of $27,500.22. Following the completion of the transaction, the president now directly owns 838,800 shares in the company, valued at $553,608. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Moore Clark sold 50,000 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 value of $32,000.00. Following the completion of the sale, the vice president now directly owns 505,334 shares in the company, valued at $323,413.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President John Douglas Schick sold 41,667 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 value of $27,500.22. Following the completion of the sale, the president now owns 838,800 shares of the company’s stock, valued at $553,608. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 319,300 shares of company stock worth $206,411. Corporate insiders own 71.10% of the company’s stock.

Institutional Trading of PEDEVCO

An institutional investor recently raised its position in PEDEVCO stock. Northern Trust Corp raised its position in shares of PEDEVCO Corp. (NYSE:PED) by 38.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,342 shares of the company’s stock after acquiring an additional 15,770 shares during the quarter. Northern Trust Corp owned about 0.06% of PEDEVCO worth $43,000 as of its most recent SEC filing. 3.26% of the stock is owned by institutional investors and hedge funds.

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.