PEDEVCO (NYSE:PED) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of PEDEVCO (NYSE:PED) in a note issued to investors on Thursday. The brokerage set a “sell” rating on the stock.

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

PEDEVCO Stock Down 1.0 %

Shares of PED opened at $1.00 on Thursday. PEDEVCO has a twelve month low of $0.61 and a twelve month high of $1.10. The company has a 50 day moving average of $0.91 and a 200-day moving average of $0.92. The stock has a market capitalization of $89.29 million, a P/E ratio of -100,000.00 and a beta of 0.58.

PEDEVCO (NYSE:PED) last released its earnings results on Wednesday, August 14th. The company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. PEDEVCO had a net margin of 1.12% and a return on equity of 0.38%. The business had revenue of $11.81 million during the quarter, compared to analysts’ expectations of $9.05 million. On average, sell-side 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.