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 on Thursday. The brokerage set a “sell” rating on the stock.

PEDEVCO Price Performance

PED stock opened at $0.85 on Thursday. The business has a fifty day moving average price of $0.93 and a 200 day moving average price of $0.82. PEDEVCO has a fifty-two week low of $0.61 and a fifty-two week high of $1.13. The stock has a market capitalization of $76.08 million, a price-to-earnings ratio of 85.23 and a beta of 0.54.

PEDEVCO (NYSE:PED) last released its quarterly earnings results on Wednesday, May 15th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. PEDEVCO had a return on equity of 1.31% and a net margin of 3.99%. The firm had revenue of $8.12 million during the quarter, compared to analysts’ expectations of $6.47 million. On average, equities analysts expect that PEDEVCO will post 0.03 earnings per share for the current fiscal year.

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.