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

StockNews.com began coverage on shares of PEDEVCO (NYSE:PED) in a report released on Sunday morning. The firm issued a sell rating on the stock.

PEDEVCO Stock Performance

PEDEVCO stock opened at $0.81 on Friday. PEDEVCO has a 12-month low of $0.61 and a 12-month high of $1.19. The company has a market capitalization of $72.38 million, a PE ratio of 40.52 and a beta of 0.51. The firm has a 50-day moving average price of $0.72.

PEDEVCO (NYSE:PED) last announced its quarterly earnings data on Friday, March 15th. The company reported ($0.05) earnings per share for the quarter. PEDEVCO had a net margin of 6.97% and a return on equity of 2.31%. The business had revenue of $6.74 million during the quarter, compared to analyst estimates of $6.39 million. Research analysts predict that PEDEVCO will post -0.01 earnings per share for the current fiscal year.

Insider Activity at PEDEVCO

In other news, President John Douglas Schick sold 58,333 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $0.64, for a total value of $37,333.12. Following the completion of the sale, the president now directly owns 780,467 shares of the company’s stock, valued at approximately $499,498.88. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, VP Moore Clark sold 45,000 shares of the firm’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $0.66, for a total transaction of $29,700.00. Following the sale, the vice president now owns 555,334 shares of the company’s stock, valued at $366,520.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President John Douglas Schick sold 58,333 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $0.64, for a total value of $37,333.12. Following the completion of the transaction, the president now owns 780,467 shares of the company’s stock, valued at $499,498.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 319,300 shares of company stock worth $206,411. 71.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in PEDEVCO stock. Northern Trust Corp grew its stake in shares of PEDEVCO Corp. (NYSE:PED) by 38.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,342 shares of the company’s stock after purchasing an additional 15,770 shares during the quarter. Northern Trust Corp owned about 0.06% of PEDEVCO worth $43,000 at the end of the most recent quarter. 3.26% of the stock is 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. The company is headquartered in Houston, Texas. PEDEVCO Corp. is a subsidiary of SK Energy LLC.