PEDEVCO (NYSE:PED) Now Covered by Analysts at StockNews.com

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

Separately, D. Boral Capital reissued a “buy” rating and set a $1.50 target price on shares of PEDEVCO in a research note on Thursday, March 13th.

PEDEVCO Price Performance

PED stock opened at $0.74 on Wednesday. PEDEVCO has a 12 month low of $0.69 and a 12 month high of $1.10. The firm has a market cap of $66.23 million, a PE ratio of 37.02 and a beta of 0.35. The firm has a 50 day simple moving average of $0.78 and a 200 day simple moving average of $0.84.

Insider Activity at PEDEVCO

In related news, CEO John Douglas Schick sold 120,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 1,577,133 shares in the company, valued at approximately $1,198,621.08. This represents a 7.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Paul Anthony Pinkston sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $0.74, for a total transaction of $25,900.00. Following the completion of the sale, the chief accounting officer now owns 714,700 shares of the company’s stock, valued at approximately $528,878. This trade represents a 4.67 % 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 ninety days. Insiders own 70.60% of the company’s stock.

Institutional Investors Weigh In On PEDEVCO

Hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC increased its stake in PEDEVCO by 19.7% in the 4th quarter. Renaissance Technologies LLC now owns 292,736 shares of the company’s stock valued at $228,000 after buying an additional 48,132 shares during the period. Citadel Advisors LLC increased 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 buying an additional 130,349 shares during the period. Finally, Virtu Financial LLC increased its stake in PEDEVCO by 129.9% in 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 during the period. Hedge funds and other institutional investors own 3.26% of the company’s stock.

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.