Roth Capital Equities Analysts Boost Earnings Estimates for PEDEVCO Corp. (NYSE:PED)

PEDEVCO Corp. (NYSE:PED) – Equities researchers at Roth Capital increased their Q3 2024 earnings per share (EPS) estimates for shares of PEDEVCO in a note issued to investors on Tuesday, June 18th. Roth Capital analyst J. White now forecasts that the company will post earnings of $0.02 per share for the quarter, up from their previous estimate of $0.01. The consensus estimate for PEDEVCO’s current full-year earnings is $0.03 per share. Roth Capital also issued estimates for PEDEVCO’s Q4 2024 earnings at $0.01 EPS and FY2024 earnings at $0.05 EPS.

Separately, StockNews.com assumed coverage on shares of PEDEVCO in a research note on Thursday. They issued a “sell” rating for the company.

PEDEVCO Stock Up 6.5 %

Shares of PED opened at $0.88 on Friday. The company has a market cap of $79.00 million, a P/E ratio of 88.50 and a beta of 0.54. PEDEVCO has a fifty-two week low of $0.61 and a fifty-two week high of $1.13. The firm’s 50 day moving average price is $0.93 and its 200 day moving average price is $0.82.

PEDEVCO (NYSE:PED) last issued its quarterly earnings results on Wednesday, May 15th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. PEDEVCO had a net margin of 3.99% and a return on equity of 1.31%. The company had revenue of $8.12 million for the quarter, compared to analyst estimates of $6.47 million.

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 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.