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

Analysts at StockNews.com assumed 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, D. Boral Capital dropped their price objective on shares of PEDEVCO from $2.25 to $1.50 and set a “buy” rating on the stock in a report on Wednesday, November 20th.

PEDEVCO Stock Down 0.6 %

NYSE:PED opened at $0.78 on Thursday. PEDEVCO has a twelve month low of $0.65 and a twelve month high of $1.10. The company has a fifty day moving average of $0.81 and a 200-day moving average of $0.89. The firm has a market capitalization of $69.90 million, a P/E ratio of 39.07 and a beta of 0.52.

Insider Buying and Selling at PEDEVCO

In other PEDEVCO news, CEO John Douglas Schick sold 58,334 shares of the firm’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $0.86, for a total transaction of $50,167.24. Following the transaction, the chief executive officer now directly owns 1,197,133 shares in the company, valued at approximately $1,029,534.38. This trade represents a 4.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Moore Clark sold 50,000 shares of PEDEVCO stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $0.86, for a total value of $43,000.00. Following the sale, the vice president now owns 855,334 shares in the company, valued at $735,587.24. This trade represents a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 476,334 shares of company stock worth $374,217. 70.60% of the stock is owned by corporate insiders.

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.