PEDEVCO (NYSE:PED) Earns Sell Rating from Analysts at StockNews.com

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

Separately, D. Boral Capital reissued a “buy” rating and issued a $1.50 target price on shares of PEDEVCO in a report on Thursday, March 13th.

PEDEVCO Stock Down 2.8 %

NYSE PED opened at $0.70 on Thursday. PEDEVCO has a 52 week low of $0.69 and a 52 week high of $1.10. The firm’s 50-day simple moving average is $0.76 and its two-hundred day simple moving average is $0.84. The company has a market cap of $62.65 million, a PE ratio of 35.02 and a beta of 0.35.

Insider Activity at PEDEVCO

In other PEDEVCO news, CAO Paul Anthony Pinkston sold 65,000 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $0.76, for a total value of $49,400.00. Following the transaction, the chief accounting officer now directly owns 816,700 shares of the company’s stock, valued at approximately $620,692. This trade represents a 7.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Moore Clark sold 125,000 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $0.76, for a total transaction of $95,000.00. Following the completion of the transaction, the vice president now owns 1,080,334 shares in the company, valued at $821,053.84. This trade represents a 10.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 441,334 shares of company stock worth $348,317 over the last quarter. Company insiders own 70.60% of the company’s stock.

Institutional Investors Weigh In On PEDEVCO

Hedge funds and other institutional investors have recently modified their holdings of the stock. Citadel Advisors LLC grew its holdings in PEDEVCO by 232.5% during the fourth quarter. Citadel Advisors LLC now owns 186,415 shares of the company’s stock valued at $145,000 after purchasing an additional 130,349 shares during the period. Renaissance Technologies LLC grew its stake in shares of PEDEVCO by 19.7% during the 4th quarter. Renaissance Technologies LLC now owns 292,736 shares of the company’s stock valued at $228,000 after acquiring an additional 48,132 shares during the period. Finally, Virtu Financial LLC increased its holdings in PEDEVCO by 129.9% in the 4th quarter. Virtu Financial LLC now owns 38,045 shares of the company’s stock worth $30,000 after acquiring an additional 21,499 shares in the last quarter. 3.26% of the stock is currently owned by hedge funds and other institutional investors.

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.