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

Investment analysts at StockNews.com initiated coverage on shares of PEDEVCO (NYSE:PED) in a research note issued to investors on Monday. The brokerage set a “sell” rating on the stock.

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

PEDEVCO Stock Down 2.7 %

NYSE PED opened at $0.70 on Monday. The stock’s 50-day moving average price is $0.80 and its 200-day moving average price is $0.86. The company has a market capitalization of $62.80 million, a P/E ratio of 35.10 and a beta of 0.35. PEDEVCO has a 52 week low of $0.65 and a 52 week high of $1.10.

Insider Transactions at PEDEVCO

In other PEDEVCO news, CEO John Douglas Schick sold 120,000 shares of PEDEVCO stock in a transaction on Monday, January 27th. The shares were sold at an average price of $0.76, for a total value of $91,200.00. Following the sale, the chief executive officer now directly owns 1,577,133 shares in the company, valued at approximately $1,198,621.08. The trade was a 7.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Moore Clark sold 50,000 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $0.86, for a total transaction of $43,000.00. Following the transaction, the vice president now directly owns 855,334 shares of the company’s stock, valued at $735,587.24. This trade represents a 5.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 476,334 shares of company stock valued at $374,217 over the last 90 days. Company insiders own 70.60% of the company’s stock.

Institutional Investors Weigh In On PEDEVCO

Large investors have recently made changes to their positions in the company. Virtu Financial LLC grew its holdings in PEDEVCO by 129.9% during the 4th quarter. Virtu Financial LLC now owns 38,045 shares of the company’s stock valued at $30,000 after buying an additional 21,499 shares in the last quarter. Citadel Advisors LLC boosted its position in shares of PEDEVCO by 232.5% during the 4th 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 last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of PEDEVCO by 19.7% in the fourth quarter. Renaissance Technologies LLC now owns 292,736 shares of the company’s stock valued at $228,000 after purchasing an additional 48,132 shares in the last quarter. 3.26% of the stock is owned by institutional investors.

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.