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

Research analysts at StockNews.com started coverage on shares of PEDEVCO (NYSE:PED) in a research note issued to investors on Saturday. The firm set a “sell” rating on the stock.

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

PEDEVCO Stock Performance

PED opened at $0.91 on Friday. PEDEVCO has a fifty-two week low of $0.61 and a fifty-two week high of $1.10. The firm has a 50-day moving average of $0.93 and a 200 day moving average of $0.93. The firm has a market cap of $81.51 million, a P/E ratio of 91.22 and a beta of 0.58.

PEDEVCO (NYSE:PED) last released its earnings results on Wednesday, August 14th. The company reported $0.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.03. PEDEVCO had a net margin of 1.12% and a return on equity of 0.38%. The firm had revenue of $11.81 million during the quarter, compared to the consensus estimate of $9.05 million. Equities research analysts predict that PEDEVCO will post 0.08 earnings per share for the current fiscal year.

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.