StockNews.com Initiates Coverage on PEDEVCO (NYSE:PED)

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

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

PEDEVCO Trading Down 0.8 %

NYSE PED opened at $0.98 on Friday. The stock has a market cap of $87.75 million, a PE ratio of 98.20 and a beta of 0.58. PEDEVCO has a 12 month low of $0.61 and a 12 month high of $1.10. The company’s 50-day moving average price is $0.92 and its 200-day moving average price is $0.93.

PEDEVCO (NYSE:PED) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. PEDEVCO had a net margin of 1.12% and a return on equity of 0.38%. The business had revenue of $11.81 million during the quarter, compared to analyst estimates of $9.05 million. As a group, sell-side analysts forecast 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.