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

Research analysts at StockNews.com began coverage on shares of PEDEVCO (NYSE:PED) in a report issued on Sunday. The brokerage set a “sell” rating on the stock.

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

PEDEVCO Stock Down 2.6 %

PEDEVCO stock opened at $0.74 on Friday. The stock has a 50-day simple moving average of $0.80 and a 200 day simple moving average of $0.86. PEDEVCO has a 12-month low of $0.65 and a 12-month high of $1.10. The stock has a market capitalization of $66.25 million, a price-to-earnings ratio of 37.03 and a beta of 0.52.

Insiders Place Their Bets

In other news, CEO John Douglas Schick sold 58,334 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $0.86, for a total transaction of $50,167.24. Following the completion of the transaction, the chief executive officer now directly owns 1,197,133 shares in the company, valued at approximately $1,029,534.38. The trade was a 4.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Paul Anthony Pinkston sold 35,000 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $0.74, for a total value of $25,900.00. Following the transaction, the chief accounting officer now owns 714,700 shares of the company’s stock, valued at $528,878. The trade was a 4.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 476,334 shares of company stock valued at $374,217. 70.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PEDEVCO

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

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.