PEDEVCO (NYSE:PED) Now Covered by StockNews.com

Analysts at StockNews.com initiated coverage on shares of PEDEVCO (NYSE:PED) in a research report issued to clients and investors on Sunday. The brokerage set a “sell” rating on the stock.

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

PEDEVCO Stock Down 0.8 %

NYSE:PED opened at $0.90 on Friday. PEDEVCO has a 52 week low of $0.61 and a 52 week high of $1.10. The firm has a 50 day moving average of $0.93 and a 200 day moving average of $0.93. The stock has a market capitalization of $80.62 million, a price-to-earnings ratio of -90,290.00 and a beta of 0.60.

PEDEVCO (NYSE:PED) last released its earnings results on Wednesday, August 14th. The company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. PEDEVCO had a net margin of 1.12% and a return on equity of 0.38%. The company had revenue of $11.81 million during the quarter, compared to analysts’ expectations of $9.05 million. As a group, analysts expect that PEDEVCO will post 0.06 EPS for the current year.

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.