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

Equities research analysts at StockNews.com assumed coverage on shares of PEDEVCO (NYSE:PED) in a research report issued on Tuesday. The firm set a “sell” rating on the stock.

Separately, Alliance Global Partners assumed coverage on shares of PEDEVCO in a research note on Wednesday, July 17th. They issued a “buy” rating and a $1.75 price objective on the stock.

PEDEVCO Price Performance

Shares of PEDEVCO stock opened at $0.93 on Tuesday. The firm has a fifty day moving average price of $0.92 and a two-hundred day moving average price of $0.90. PEDEVCO has a fifty-two week low of $0.61 and a fifty-two week high of $1.10. The company has a market cap of $82.89 million, a PE ratio of 92.76 and a beta of 0.58.

PEDEVCO (NYSE:PED) last issued its earnings results on Wednesday, August 14th. The company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. The business 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%. Analysts expect that PEDEVCO will post 0.08 earnings per share for the current fiscal year.

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.