D. Boral Capital Reiterates “Buy” Rating for PEDEVCO (NYSE:PED)

PEDEVCO (NYSE:PED)‘s stock had its “buy” rating reaffirmed by equities research analysts at D. Boral Capital in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $1.50 price target on the stock. D. Boral Capital’s price objective suggests a potential upside of 111.27% from the stock’s current price.

Separately, StockNews.com assumed coverage on PEDEVCO in a research report on Tuesday. They set a “sell” rating on the stock.

PEDEVCO Price Performance

PEDEVCO stock opened at $0.71 on Thursday. The firm has a 50-day moving average of $0.79 and a 200-day moving average of $0.85. The company has a market cap of $63.54 million, a price-to-earnings ratio of 35.52 and a beta of 0.35. PEDEVCO has a one year low of $0.69 and a one year high of $1.10.

Insider Activity at PEDEVCO

In other PEDEVCO news, CAO Paul Anthony Pinkston sold 35,000 shares of the company’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $0.74, for a total value of $25,900.00. Following the transaction, the chief accounting officer now directly owns 714,700 shares in the company, valued at $528,878. The trade was a 4.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Moore Clark sold 50,000 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $0.86, for a total transaction of $43,000.00. Following the sale, the vice president now owns 855,334 shares of the company’s stock, valued at approximately $735,587.24. This represents a 5.52 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 476,334 shares of company stock worth $374,217. Insiders own 70.60% of the company’s stock.

Hedge Funds Weigh In On PEDEVCO

Several institutional investors and hedge funds have recently made changes to their positions in the company. Citadel Advisors LLC boosted its stake in PEDEVCO by 232.5% in the 4th quarter. Citadel Advisors LLC now owns 186,415 shares of the company’s stock valued at $145,000 after purchasing an additional 130,349 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of PEDEVCO by 19.7% during the fourth quarter. Renaissance Technologies LLC now owns 292,736 shares of the company’s stock worth $228,000 after buying an additional 48,132 shares in the last quarter. Finally, Virtu Financial LLC lifted its holdings in shares of PEDEVCO by 129.9% during the fourth quarter. Virtu Financial LLC now owns 38,045 shares of the company’s stock worth $30,000 after buying an additional 21,499 shares in the last quarter. Institutional investors and hedge funds own 3.26% of the company’s stock.

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.