PEDEVCO (NYSE:PED) Receives New Coverage from Analysts at StockNews.com

Analysts at StockNews.com began coverage on shares of PEDEVCO (NYSE:PED) in a report released on Tuesday. The brokerage set a “sell” rating on the stock.

Separately, Alliance Global Partners assumed coverage on PEDEVCO in a report on Wednesday, July 17th. They issued a “buy” rating and a $1.75 target price on the stock.

PEDEVCO Stock Down 3.0 %

Shares of PED stock opened at $0.93 on Tuesday. The company has a market cap of $82.89 million, a P/E ratio of 92.76 and a beta of 0.58. PEDEVCO has a twelve month low of $0.61 and a twelve month high of $1.10. The business has a fifty day simple moving average of $0.92 and a 200 day simple moving average of $0.90.

PEDEVCO (NYSE:PED) last posted its earnings results on Wednesday, August 14th. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. PEDEVCO had a net margin of 1.12% and a return on equity of 0.38%. The business had revenue of $11.81 million for the quarter, compared to the consensus estimate of $9.05 million. As a group, equities research analysts anticipate that PEDEVCO will post 0.08 earnings per share for the current fiscal year.

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.