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

Stock analysts at StockNews.com initiated coverage on shares of PEDEVCO (NYSE:PED) in a research report issued on Thursday. The brokerage set a “sell” rating on the stock.

Separately, D. Boral Capital reaffirmed a “buy” rating and set a $1.50 target price on shares of PEDEVCO in a research note on Tuesday.

PEDEVCO Price Performance

NYSE:PED opened at $0.65 on Thursday. PEDEVCO has a fifty-two week low of $0.47 and a fifty-two week high of $1.10. The stock’s 50-day moving average is $0.60 and its two-hundred day moving average is $0.74. The stock has a market cap of $58.96 million, a PE ratio of 32.29 and a beta of 0.30.

Institutional Investors Weigh In On PEDEVCO

Institutional investors have recently made changes to their positions in the company. Virtu Financial LLC lifted its holdings in shares of PEDEVCO by 129.9% during the 4th quarter. Virtu Financial LLC now owns 38,045 shares of the company’s stock valued at $30,000 after buying an additional 21,499 shares during the last quarter. Citadel Advisors LLC lifted its holdings in shares of PEDEVCO by 232.5% during the 4th quarter. Citadel Advisors LLC now owns 186,415 shares of the company’s stock valued at $145,000 after buying an additional 130,349 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of PEDEVCO by 19.7% during the 4th quarter. Renaissance Technologies LLC now owns 292,736 shares of the company’s stock valued at $228,000 after buying an additional 48,132 shares during the last quarter. 3.26% of the stock is currently 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 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.