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

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

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

PEDEVCO Trading Up 0.6 %

PED stock opened at $0.78 on Friday. PEDEVCO has a 12-month low of $0.65 and a 12-month high of $1.10. The stock’s 50 day simple moving average is $0.81 and its 200 day simple moving average is $0.88. The stock has a market capitalization of $69.81 million, a PE ratio of 39.02 and a beta of 0.52.

Insider Transactions at PEDEVCO

In related news, CAO Paul Anthony Pinkston sold 65,000 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $0.76, for a total transaction of $49,400.00. Following the completion of the sale, the chief accounting officer now directly owns 816,700 shares in the company, valued at approximately $620,692. The trade was a 7.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Moore Clark sold 125,000 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $0.76, for a total transaction of $95,000.00. Following the sale, the vice president now directly owns 1,080,334 shares of the company’s stock, valued at approximately $821,053.84. This represents a 10.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 476,334 shares of company stock worth $374,217 in the last ninety days. Insiders own 70.60% of the company’s stock.

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.