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

StockNews.com began coverage on shares of PEDEVCO (NYSE:PED) in a research note issued to investors on Wednesday morning. The firm issued a sell rating on the stock.

Separately, D. Boral Capital restated a “buy” rating and set a $1.50 target price on shares of PEDEVCO in a research report on Thursday, March 13th.

PEDEVCO Price Performance

Shares of NYSE:PED opened at $0.73 on Wednesday. PEDEVCO has a 1 year low of $0.69 and a 1 year high of $1.10. The business has a 50 day simple moving average of $0.78 and a two-hundred day simple moving average of $0.85. The firm has a market capitalization of $65.24 million, a PE ratio of 36.47 and a beta of 0.35.

Insider Activity at PEDEVCO

In related news, 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 completion of the sale, the chief accounting officer now owns 816,700 shares in the company, valued at approximately $620,692. The trade was a 7.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Douglas Schick sold 58,334 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 value of $50,167.24. Following the completion of the sale, the chief executive officer now owns 1,197,133 shares of the company’s stock, valued at $1,029,534.38. The trade was a 4.65 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 476,334 shares of company stock worth $374,217. Company insiders own 70.60% of the company’s stock.

Hedge Funds Weigh In On PEDEVCO

A number of large investors have recently bought and sold shares of the business. Citadel Advisors LLC raised its stake in PEDEVCO by 232.5% in the fourth quarter. Citadel Advisors LLC now owns 186,415 shares of the company’s stock worth $145,000 after buying an additional 130,349 shares in the last quarter. Renaissance Technologies LLC raised its stake in PEDEVCO by 19.7% in the fourth quarter. Renaissance Technologies LLC now owns 292,736 shares of the company’s stock worth $228,000 after buying an additional 48,132 shares in the last quarter. Finally, Virtu Financial LLC raised its stake in PEDEVCO by 129.9% in the fourth quarter. Virtu Financial LLC now owns 38,045 shares of the company’s stock worth $30,000 after buying an additional 21,499 shares in the last quarter. 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.