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 research note issued to investors on Tuesday. The brokerage set a “sell” rating on the stock.

PEDEVCO Price Performance

Shares of PED opened at $0.83 on Tuesday. The company’s 50-day moving average is $0.75. The firm has a market capitalization of $73.72 million, a price-to-earnings ratio of 41.27 and a beta of 0.51. PEDEVCO has a 52 week low of $0.61 and a 52 week high of $1.13.

PEDEVCO (NYSE:PED) last announced its quarterly earnings data on Friday, March 15th. The company reported ($0.05) 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 net margin of 6.97% and a return on equity of 2.31%. Equities research analysts predict that PEDEVCO will post -0.01 earnings per share for the current year.

Insider Activity

In related news, President John Douglas Schick sold 58,333 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $0.64, for a total value of $37,333.12. Following the sale, the president now owns 780,467 shares of the company’s stock, valued at $499,498.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP Moore Clark sold 50,000 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $0.64, for a total value of $32,000.00. Following the sale, the vice president now owns 455,334 shares of the company’s stock, valued at $291,413.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President John Douglas Schick sold 58,333 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $0.64, for a total transaction of $37,333.12. Following the completion of the transaction, the president now owns 780,467 shares in the company, valued at $499,498.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 319,300 shares of company stock valued at $206,411. Insiders own 71.10% of the company’s stock.

Institutional Investors Weigh In On PEDEVCO

An institutional investor recently raised its position in PEDEVCO stock. Northern Trust Corp grew its position in PEDEVCO Corp. (NYSE:PED) by 38.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,342 shares of the company’s stock after acquiring an additional 15,770 shares during the period. Northern Trust Corp owned about 0.06% of PEDEVCO worth $43,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 3.26% 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. 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.