StockNews.com Initiates Coverage on PEDEVCO (NYSE:PED)

StockNews.com started coverage on shares of PEDEVCO (NYSE:PED) in a report published on Friday morning. The firm issued a sell rating on the stock.

Separately, D. Boral Capital lowered their price objective on PEDEVCO from $2.25 to $1.50 and set a “buy” rating on the stock in a research report on Wednesday, November 20th.

PEDEVCO Stock Performance

PED opened at $0.78 on Friday. The stock has a market cap of $69.81 million, a price-to-earnings ratio of 39.02 and a beta of 0.52. The firm’s fifty day moving average is $0.81 and its 200 day moving average is $0.88. PEDEVCO has a fifty-two week low of $0.65 and a fifty-two week high of $1.10.

Insider Transactions at PEDEVCO

In other PEDEVCO news, CAO Paul Anthony Pinkston sold 35,000 shares of PEDEVCO stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $0.74, for a total value of $25,900.00. Following the sale, the chief accounting officer now owns 714,700 shares of the company’s stock, valued at $528,878. The trade was a 4.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Moore Clark sold 50,000 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $0.86, for a total value of $43,000.00. Following the transaction, the vice president now owns 855,334 shares of the company’s stock, valued at $735,587.24. This represents a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 476,334 shares of company stock valued at $374,217. 70.60% of the stock is currently owned by corporate insiders.

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.