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

StockNews.com started coverage on shares of PEDEVCO (NYSE:PED) in a report released on Monday morning. The brokerage issued a sell rating on the stock.

Separately, D. Boral Capital cut their target price on PEDEVCO from $2.25 to $1.50 and set a “buy” rating on the stock in a research report on Wednesday, November 20th.

PEDEVCO Stock Performance

Shares of PED stock opened at $0.80 on Monday. The firm has a market capitalization of $72.01 million, a price-to-earnings ratio of 40.25 and a beta of 0.52. PEDEVCO has a one year low of $0.61 and a one year high of $1.10. The company has a 50 day moving average price of $0.83 and a 200 day moving average price of $0.90.

Insider Buying and Selling

In other PEDEVCO news, CAO Paul Anthony Pinkston sold 35,000 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $0.74, for a total value of $25,900.00. Following the completion of the sale, the chief accounting officer now owns 714,700 shares of the company’s stock, valued at $528,878. This trade represents a 4.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 70.60% of the stock is owned by corporate insiders.

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.