PEDEVCO (NYSE:PED) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of PEDEVCO (NYSE:PED) in a research report sent to investors on Wednesday morning. The brokerage issued a sell rating on the stock.

PEDEVCO Stock Up 10.8 %

PEDEVCO stock opened at $1.03 on Wednesday. PEDEVCO has a 52-week low of $0.61 and a 52-week high of $1.13. The firm has a market capitalization of $92.04 million, a price-to-earnings ratio of 46.50 and a beta of 0.51. The company has a fifty day simple moving average of $0.78 and a 200-day simple moving average of $0.81.

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

Insider Activity at PEDEVCO

In related news, VP Moore Clark sold 50,000 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 $32,000.00. Following the completion of the sale, the vice president now owns 505,334 shares of the company’s stock, valued at $323,413.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Moore Clark sold 50,000 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 $32,000.00. Following the completion of the sale, the vice president now owns 505,334 shares of the company’s stock, valued at $323,413.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $37,333.12. Following the completion of the sale, the president now directly owns 780,467 shares of the company’s stock, valued at approximately $499,498.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 216,333 shares of company stock valued at $138,453. 71.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in PEDEVCO stock. Northern Trust Corp boosted its stake in shares of PEDEVCO Corp. (NYSE:PED) by 38.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,342 shares of the company’s stock after buying an additional 15,770 shares during the quarter. Northern Trust Corp owned 0.06% of PEDEVCO worth $43,000 as of its most recent SEC filing. Institutional investors own 3.26% of the company’s stock.

About PEDEVCO

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.