PEDEVCO (NYSE:PED) Receives Buy Rating from D. Boral Capital

D. Boral Capital reiterated their buy rating on shares of PEDEVCO (NYSE:PED) in a report issued on Wednesday,Benzinga reports. D. Boral Capital currently has a $1.50 price target on the stock.

Separately, StockNews.com assumed coverage on shares of PEDEVCO in a research note on Thursday, March 27th. They issued a “sell” rating on the stock.

PEDEVCO Stock Performance

NYSE:PED opened at $0.71 on Wednesday. PEDEVCO has a 1 year low of $0.68 and a 1 year high of $1.10. The stock has a market cap of $63.98 million, a P/E ratio of 35.76 and a beta of 0.35. The stock has a 50-day simple moving average of $0.75 and a 200-day simple moving average of $0.83.

Insider Activity at PEDEVCO

In other news, VP Moore Clark sold 125,000 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $0.76, for a total value of $95,000.00. Following the completion of the sale, the vice president now directly owns 1,080,334 shares of the company’s stock, valued at approximately $821,053.84. This represents a 10.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Paul Anthony Pinkston sold 65,000 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $0.76, for a total value of $49,400.00. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 441,334 shares of company stock valued at $348,317 in the last three months. 70.60% of the stock is currently owned by company insiders.

Institutional Trading of PEDEVCO

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC raised its stake 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 purchasing an additional 21,499 shares during the last quarter. 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, Renaissance Technologies LLC raised its position in PEDEVCO by 19.7% during the 4th quarter. Renaissance Technologies LLC now owns 292,736 shares of the company’s stock worth $228,000 after buying an additional 48,132 shares during the last quarter. 3.26% of the stock is owned by hedge funds and other 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.