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

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

Separately, Alliance Global Partners started coverage on shares of PEDEVCO in a research note on Wednesday, July 17th. They issued a buy rating and a $1.75 price target for the company.

PEDEVCO Price Performance

Shares of PED stock opened at $1.00 on Thursday. The business has a 50 day simple moving average of $0.91 and a 200 day simple moving average of $0.92. The firm has a market capitalization of $89.36 million, a price-to-earnings ratio of 100.00 and a beta of 0.58. PEDEVCO has a 12-month low of $0.61 and a 12-month high of $1.10.

PEDEVCO (NYSE:PED) last issued its quarterly earnings results on Wednesday, August 14th. The company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. The company had revenue of $11.81 million for the quarter, compared to analyst estimates of $9.05 million. PEDEVCO had a return on equity of 0.38% and a net margin of 1.12%. On average, equities analysts anticipate that PEDEVCO will post 0.08 EPS for the current fiscal year.

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.