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

Analysts at StockNews.com initiated coverage on shares of PEDEVCO (NYSE:PED) in a report issued on Friday. The brokerage set a “sell” rating on the stock.

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

PEDEVCO Stock Up 3.6 %

NYSE:PED opened at $0.78 on Friday. The company has a market cap of $69.65 million, a P/E ratio of 39.02 and a beta of 0.51. PEDEVCO has a twelve month low of $0.61 and a twelve month high of $1.10. The business has a 50 day moving average price of $0.90 and a two-hundred day moving average price of $0.91.

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.