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

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

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

PEDEVCO Stock Down 2.8 %

PEDEVCO stock opened at $0.70 on Thursday. PEDEVCO has a 52-week low of $0.69 and a 52-week high of $1.10. The company has a market cap of $62.65 million, a P/E ratio of 35.02 and a beta of 0.35. The business has a 50-day simple moving average of $0.76 and a two-hundred day simple moving average of $0.84.

Insider Buying and Selling at PEDEVCO

In related news, CAO Paul Anthony Pinkston sold 65,000 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $0.76, for a total transaction of $49,400.00. Following the sale, the chief accounting officer now owns 816,700 shares of the company’s stock, valued at $620,692. This represents a 7.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Moore Clark sold 50,000 shares of PEDEVCO stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $0.86, for a total transaction of $43,000.00. Following the completion of the transaction, the vice president now directly owns 855,334 shares of the company’s stock, valued at $735,587.24. The trade was a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 441,334 shares of company stock valued at $348,317 in the last 90 days. Insiders own 70.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PED. Virtu Financial LLC increased its stake in 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 acquiring an additional 21,499 shares during the last quarter. Citadel Advisors LLC lifted its stake in shares of 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 purchasing an additional 130,349 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of PEDEVCO by 19.7% in the 4th quarter. Renaissance Technologies LLC now owns 292,736 shares of the company’s stock worth $228,000 after purchasing an additional 48,132 shares during the period. 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.