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

StockNews.com initiated coverage on shares of PEDEVCO (NYSE:PED) in a report issued on Thursday. The firm issued a sell rating on the stock.

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

PEDEVCO Trading Up 0.6 %

Shares of PEDEVCO stock opened at $0.73 on Thursday. PEDEVCO has a 1 year low of $0.69 and a 1 year high of $1.10. The company has a market cap of $65.06 million, a P/E ratio of 36.37 and a beta of 0.35. The stock has a 50-day moving average price of $0.77 and a 200 day moving average price of $0.84.

Insider Buying and Selling

In other PEDEVCO news, VP Moore Clark sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $0.86, for a total transaction of $43,000.00. Following the completion of the sale, the vice president now owns 855,334 shares of the company’s stock, valued at $735,587.24. This represents a 5.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Paul Anthony Pinkston sold 65,000 shares of PEDEVCO stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $0.76, for a total transaction of $49,400.00. Following the completion of the transaction, the chief accounting officer now directly owns 816,700 shares in the company, valued at approximately $620,692. This represents a 7.37 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 441,334 shares of company stock worth $348,317. Corporate insiders own 70.60% of the company’s stock.

Institutional Investors Weigh In On PEDEVCO

A number of hedge funds have recently bought and sold shares of PED. Renaissance Technologies LLC lifted its position in shares of PEDEVCO by 19.7% during the 4th quarter. Renaissance Technologies LLC now owns 292,736 shares of the company’s stock worth $228,000 after purchasing an additional 48,132 shares during the last quarter. Citadel Advisors LLC lifted its holdings in shares of PEDEVCO by 232.5% during 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 during the last quarter. Finally, Virtu Financial LLC boosted its position in shares of PEDEVCO by 129.9% in the fourth quarter. Virtu Financial LLC now owns 38,045 shares of the company’s stock valued at $30,000 after acquiring an additional 21,499 shares during the period. 3.26% of the stock is currently owned by institutional investors.

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.