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

Analysts at StockNews.com assumed coverage on shares of PEDEVCO (NYSE:PED) in a report released on Monday. The firm set a “sell” rating on the stock.

Separately, Alliance Global Partners initiated coverage on shares of PEDEVCO in a research report on Wednesday, July 17th. They set a “buy” rating and a $1.75 price target for the company.

PEDEVCO Stock Up 2.7 %

PED stock opened at $0.93 on Monday. PEDEVCO has a 52-week low of $0.61 and a 52-week high of $1.13. The company’s 50-day simple moving average is $0.93 and its 200-day simple moving average is $0.89. The firm has a market cap of $83.08 million, a P/E ratio of 93.13 and a beta of 0.58.

PEDEVCO (NYSE:PED) last released its quarterly earnings results on Wednesday, August 14th. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. PEDEVCO had a net margin of 1.12% and a return on equity of 0.38%. The firm had revenue of $11.81 million during the quarter, compared to the consensus estimate of $9.05 million. On average, analysts anticipate that PEDEVCO will post 0.08 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.