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

Equities researchers at StockNews.com began coverage on shares of PEDEVCO (NYSE:PED) in a research note issued on Saturday. The brokerage set a “sell” rating on the stock.

Separately, Alliance Global Partners assumed coverage on shares of PEDEVCO in a research report on Wednesday, July 17th. They issued a “buy” rating and a $1.75 target price for the company.

PEDEVCO Trading Down 2.4 %

Shares of PED opened at $0.86 on Friday. PEDEVCO has a 12-month low of $0.61 and a 12-month high of $1.13. The company has a market cap of $76.36 million, a PE ratio of 85.61 and a beta of 0.55. The stock has a 50-day moving average price of $0.93 and a 200-day moving average price of $0.88.

PEDEVCO (NYSE:PED) last announced its earnings results on Wednesday, August 14th. The company reported $0.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.03. PEDEVCO had a net margin of 1.12% and a return on equity of 0.38%. The business had revenue of $11.81 million for the quarter, compared to the consensus estimate of $9.05 million. As a group, analysts predict that PEDEVCO will post 0.06 earnings per share for the current year.

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.