PEDEVCO (NYSE:PED) Earns Sell Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of PEDEVCO (NYSE:PED) in a research report sent to investors on Wednesday morning. The firm issued a sell rating on the stock.

Separately, Alliance Global Partners started coverage on PEDEVCO in a report on Wednesday, July 17th. They set a buy rating and a $1.75 price objective on the stock.

PEDEVCO Price Performance

Shares of PED opened at $1.01 on Wednesday. The stock’s 50-day moving average price is $0.91 and its 200 day moving average price is $0.91. The firm has a market capitalization of $89.74 million, a price-to-earnings ratio of 100.60 and a beta of 0.58. PEDEVCO has a 12-month low of $0.61 and a 12-month high of $1.10.

PEDEVCO (NYSE:PED) last issued its earnings results on Wednesday, August 14th. The company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. PEDEVCO had a return on equity of 0.38% and a net margin of 1.12%. The business had revenue of $11.81 million during the quarter, compared to analyst estimates of $9.05 million. Equities research analysts expect that PEDEVCO will post 0.08 EPS for the current year.

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.