StockNews.com Begins Coverage on PEDEVCO (NYSE:PED)

Stock analysts at StockNews.com assumed coverage on shares of PEDEVCO (NYSE:PED) in a research note issued on Monday. The firm set a “sell” rating on the stock.

Separately, D. Boral Capital dropped their target price on shares of PEDEVCO from $2.25 to $1.50 and set a “buy” rating for the company in a research report on Wednesday, November 20th.

PEDEVCO Stock Up 5.1 %

Shares of PEDEVCO stock opened at $0.85 on Monday. The business has a 50 day moving average of $0.83 and a 200 day moving average of $0.90. PEDEVCO has a 52 week low of $0.61 and a 52 week high of $1.10. The company has a market cap of $75.71 million, a PE ratio of 42.32 and a beta of 0.52.

Insider Transactions at PEDEVCO

In related news, CAO Paul Anthony Pinkston sold 35,000 shares of PEDEVCO stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $0.74, for a total transaction of $25,900.00. Following the completion of the transaction, the chief accounting officer now directly owns 714,700 shares of the company’s stock, valued at $528,878. This trade represents a 4.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 70.60% 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.