PEDEVCO (NYSE:PED) Research Coverage Started at StockNews.com

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

Separately, D. Boral Capital reiterated a “buy” rating and issued a $1.50 price target on shares of PEDEVCO in a research report on Wednesday, April 2nd.

PEDEVCO Stock Performance

Shares of NYSE:PED opened at $0.56 on Friday. The company has a market capitalization of $50.69 million, a PE ratio of 27.76 and a beta of 0.29. The stock has a fifty day moving average of $0.70 and a 200-day moving average of $0.81. PEDEVCO has a one year low of $0.47 and a one year high of $1.10.

Insider Buying and Selling at PEDEVCO

In other PEDEVCO news, CAO Paul Anthony Pinkston sold 65,000 shares of PEDEVCO stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $0.76, for a total transaction of $49,400.00. Following the transaction, the chief accounting officer now owns 816,700 shares of the company’s stock, valued at $620,692. The trade was a 7.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Moore Clark sold 50,000 shares of the firm’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 sale, the vice president now owns 855,334 shares of the company’s stock, valued at approximately $735,587.24. This represents a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 441,334 shares of company stock valued at $348,317 in the last three months. 70.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PEDEVCO

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

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.