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

StockNews.com assumed coverage on shares of PEDEVCO (NYSE:PED) in a research note published on Monday. The firm issued a sell rating on the stock.

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

PEDEVCO Price Performance

PED opened at $0.90 on Monday. PEDEVCO has a 12-month low of $0.61 and a 12-month high of $1.10. The stock has a market capitalization of $80.07 million, a PE ratio of -89,680.00 and a beta of 0.60. The firm’s fifty day moving average price is $0.94 and its 200 day moving average price is $0.93.

PEDEVCO (NYSE:PED) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. PEDEVCO had a return on equity of 0.38% and a net margin of 1.12%. The business had revenue of $11.81 million during the quarter, compared to the consensus estimate of $9.05 million. On average, equities research analysts forecast that PEDEVCO will post 0.06 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.