PEDEVCO (NYSE:PED) Earns Sell Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of PEDEVCO (NYSE:PED) in a research note released on Saturday. The brokerage issued a sell rating on the stock.

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

PEDEVCO Stock Performance

NYSE PED opened at $0.75 on Friday. The business’s fifty day moving average is $0.80 and its two-hundred day moving average is $0.87. PEDEVCO has a 1 year low of $0.65 and a 1 year high of $1.10. The stock has a market capitalization of $67.30 million, a P/E ratio of 37.62 and a beta of 0.52.

Insider Transactions at PEDEVCO

In related news, CAO Paul Anthony Pinkston sold 65,000 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $0.76, for a total value of $49,400.00. Following the completion of the sale, the chief accounting officer now directly owns 816,700 shares in the company, valued at approximately $620,692. This represents a 7.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Moore Clark sold 125,000 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $0.76, for a total transaction of $95,000.00. Following the completion of the sale, the vice president now owns 1,080,334 shares of the company’s stock, valued at $821,053.84. This represents a 10.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 476,334 shares of company stock valued at $374,217. 70.60% of the stock is owned by insiders.

Institutional Investors Weigh In On PEDEVCO

A number of hedge funds have recently bought and sold shares of the company. Virtu Financial LLC boosted its holdings in PEDEVCO by 129.9% during the fourth quarter. Virtu Financial LLC now owns 38,045 shares of the company’s stock valued at $30,000 after acquiring an additional 21,499 shares during the period. Renaissance Technologies LLC boosted its holdings in PEDEVCO by 19.7% during the fourth quarter. Renaissance Technologies LLC now owns 292,736 shares of the company’s stock valued at $228,000 after acquiring an additional 48,132 shares during the period. Finally, Citadel Advisors LLC boosted its holdings in PEDEVCO by 232.5% during the fourth quarter. Citadel Advisors LLC now owns 186,415 shares of the company’s stock valued at $145,000 after acquiring an additional 130,349 shares during the period. 3.26% of the stock is currently owned by institutional investors.

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.