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

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

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

PEDEVCO Trading Down 2.2 %

NYSE PED opened at $0.89 on Tuesday. The firm’s fifty day simple moving average is $0.92 and its two-hundred day simple moving average is $0.91. PEDEVCO has a 12-month low of $0.61 and a 12-month high of $1.10. The firm has a market capitalization of $79.53 million, a P/E ratio of 89.01 and a beta of 0.58.

PEDEVCO (NYSE:PED) last released its quarterly earnings results on Wednesday, August 14th. The company reported $0.03 earnings per share (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 analyst estimates of $9.05 million. As a group, sell-side 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.