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

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

Separately, D. Boral Capital reduced their target price on shares of PEDEVCO from $2.25 to $1.50 and set a “buy” rating for the company in a report on Wednesday, November 20th.

PEDEVCO Price Performance

Shares of PED stock opened at $0.70 on Tuesday. The stock’s fifty day moving average price is $0.80 and its 200 day moving average price is $0.85. The company has a market cap of $62.87 million, a price-to-earnings ratio of 35.14 and a beta of 0.35. PEDEVCO has a 1-year low of $0.69 and a 1-year high of $1.10.

Insider Transactions at PEDEVCO

In other PEDEVCO news, VP Moore Clark sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $0.86, for a total transaction of $43,000.00. Following the completion of the transaction, the vice president now owns 855,334 shares in the company, valued at $735,587.24. The trade was a 5.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Paul Anthony Pinkston sold 65,000 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $0.76, for a total value of $49,400.00. Following the sale, the chief accounting officer now owns 816,700 shares of the company’s stock, valued at approximately $620,692. The trade was a 7.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 476,334 shares of company stock worth $374,217 in the last quarter. Company insiders own 70.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC lifted its position in PEDEVCO by 129.9% during the 4th quarter. Virtu Financial LLC now owns 38,045 shares of the company’s stock worth $30,000 after acquiring an additional 21,499 shares during the period. Renaissance Technologies LLC raised its holdings in PEDEVCO by 19.7% during the fourth quarter. Renaissance Technologies LLC now owns 292,736 shares of the company’s stock worth $228,000 after purchasing an additional 48,132 shares in the last quarter. Finally, Citadel Advisors LLC lifted its position in PEDEVCO by 232.5% in the fourth quarter. Citadel Advisors LLC now owns 186,415 shares of the company’s stock valued at $145,000 after purchasing an additional 130,349 shares during the period. Hedge funds and other institutional investors own 3.26% of the company’s stock.

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.