PEDEVCO Stock Scheduled to Reverse Split on Friday, March 13th (NYSE:PED)

Shares of PEDEVCO Corp. (NYSE:PED) are going to reverse split before the market opens on Friday, March 13th. The 1-20 reverse split was announced on Tuesday, March 3rd. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, March 12th.

PEDEVCO Price Performance

Shares of PED stock opened at $0.59 on Thursday. The business’s 50 day simple moving average is $0.59 and its 200 day simple moving average is $0.58. PEDEVCO has a one year low of $0.43 and a one year high of $0.82. The stock has a market capitalization of $56.17 million, a PE ratio of 29.41 and a beta of 0.35.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Zacks Research raised PEDEVCO to a “hold” rating in a research report on Wednesday, November 19th. Roth Mkm upgraded PEDEVCO to a “strong-buy” rating in a research note on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, PEDEVCO presently has a consensus rating of “Buy” and an average price target of $1.50.

Hedge Funds Weigh In On PEDEVCO

A hedge fund recently bought a new stake in PEDEVCO stock. Juniper Capital Advisors L.P. acquired a new stake in PEDEVCO Corp. (NYSE:PED) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 196,359 shares of the company’s stock, valued at approximately $110,000. PEDEVCO comprises 0.0% of Juniper Capital Advisors L.P.’s investment portfolio, making the stock its 2nd largest position. Juniper Capital Advisors L.P. owned about 0.21% of PEDEVCO as of its most recent SEC filing. Hedge funds and other institutional investors own 3.26% of the company’s stock.

About PEDEVCO

Pedevco Corp is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties. The company focuses on leveraging a low-cost development model to unlock value from its onshore assets, applying reservoir characterization, well optimization and cost-effective completion techniques. Pedevco’s operational strategy emphasizes efficient use of existing infrastructure and disciplined capital allocation to maximize production and reserves recovery.

The company’s asset portfolio is concentrated in onshore U.S.