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

Investment analysts at StockNews.com initiated coverage on shares of PEDEVCO (NYSE:PED) in a research note issued on Saturday. The brokerage set a “sell” rating on the stock.

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

PEDEVCO Stock Performance

NYSE:PED opened at $0.92 on Friday. PEDEVCO has a twelve month low of $0.61 and a twelve month high of $1.10. The firm has a market capitalization of $82.25 million, a price-to-earnings ratio of 92.05 and a beta of 0.58. The firm’s fifty day simple moving average is $0.93 and its 200 day simple moving average is $0.93.

PEDEVCO (NYSE:PED) last released its quarterly earnings data on Wednesday, August 14th. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. The firm had revenue of $11.81 million for the quarter, compared to analyst estimates of $9.05 million. PEDEVCO had a net margin of 1.12% and a return on equity of 0.38%. On average, analysts predict that PEDEVCO will post 0.08 earnings per share for the current 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.