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

StockNews.com assumed coverage on shares of PEDEVCO (NYSEAMERICAN:PED) in a report issued on Sunday. The brokerage issued a sell rating on the stock.

PEDEVCO Trading Up 1.0 %

PED stock opened at $1.02 on Friday. The firm has a market capitalization of $88.78 million, a price-to-earnings ratio of 34.01 and a beta of 1.32. The company’s 50 day simple moving average is $0.93. PEDEVCO has a 12 month low of $0.80 and a 12 month high of $1.31.

PEDEVCO (NYSEAMERICAN:PED) last issued its earnings results on Tuesday, August 15th. The company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. The business had revenue of $10.91 million during the quarter, compared to analysts’ expectations of $9.48 million. PEDEVCO had a return on equity of 3.71% and a net margin of 11.32%. Equities analysts forecast that PEDEVCO will post 0.12 earnings per share for the current year.

Insider Activity at PEDEVCO

In other news, CEO Simon G. Kukes bought 130,453 shares of the stock in a transaction that occurred on Thursday, June 15th. The shares were acquired at an average cost of $0.89 per share, for a total transaction of $116,103.17. Following the purchase, the chief executive officer now owns 7,021,950 shares of the company’s stock, valued at approximately $6,249,535.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other PEDEVCO news, Director John J. Scelfo sold 40,000 shares of PEDEVCO stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $0.92, for a total value of $36,800.00. Following the completion of the transaction, the director now owns 224,500 shares in the company, valued at approximately $206,540. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Simon G. Kukes acquired 130,453 shares of the stock in a transaction on Thursday, June 15th. The stock was bought at an average price of $0.89 per share, with a total value of $116,103.17. Following the transaction, the chief executive officer now directly owns 7,021,950 shares in the company, valued at approximately $6,249,535.50. The disclosure for this purchase can be found here. 71.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On PEDEVCO

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PED. XTX Topco Ltd lifted its stake in PEDEVCO by 44.7% in the 1st quarter. XTX Topco Ltd now owns 52,091 shares of the company’s stock valued at $70,000 after acquiring an additional 16,083 shares in the last quarter. Vanguard Group Inc. lifted its holdings in PEDEVCO by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 945,769 shares of the company’s stock worth $955,000 after purchasing an additional 19,300 shares during the last quarter. First Republic Investment Management Inc. acquired a new stake in shares of PEDEVCO during the first quarter worth $28,000. Jane Street Group LLC acquired a new stake in shares of PEDEVCO during the first quarter worth $30,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of PEDEVCO by 44.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 79,800 shares of the company’s stock valued at $88,000 after buying an additional 24,600 shares during the period. Institutional investors own 3.05% of the company’s stock.

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. The company is headquartered in Houston, Texas. PEDEVCO Corp. is a subsidiary of SK Energy LLC.