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

Stock analysts at StockNews.com began coverage on shares of PEDEVCO (NYSE:PED) in a note issued to investors on Thursday. The firm set a “sell” rating on the stock.

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

PEDEVCO Stock Performance

PED opened at $1.00 on Thursday. PEDEVCO has a fifty-two week low of $0.61 and a fifty-two week high of $1.10. The company has a market capitalization of $89.29 million, a P/E ratio of -100,000.00 and a beta of 0.58. The stock has a fifty day moving average of $0.91 and a 200-day moving average of $0.92.

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