PEDEVCO (NYSE:PED) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of PEDEVCO (NYSE:PED) in a report published on Friday. The brokerage issued a sell rating on the stock.

Separately, D. Boral Capital reaffirmed a “buy” rating and issued a $1.50 target price on shares of PEDEVCO in a research report on Wednesday, April 2nd.

PEDEVCO Stock Down 7.0 %

Shares of PEDEVCO stock opened at $0.56 on Friday. The business has a 50 day moving average of $0.74 and a 200 day moving average of $0.83. PEDEVCO has a 52 week low of $0.54 and a 52 week high of $1.10. The company has a market cap of $50.13 million, a PE ratio of 28.02 and a beta of 0.29.

Insider Activity

In related news, VP Moore Clark sold 50,000 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $0.86, for a total value of $43,000.00. Following the completion of the transaction, the vice president now directly owns 855,334 shares in the company, valued at $735,587.24. This trade represents a 5.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John Douglas Schick sold 120,000 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $0.76, for a total transaction of $91,200.00. Following the sale, the chief executive officer now directly owns 1,577,133 shares in the company, valued at $1,198,621.08. The trade was a 7.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 441,334 shares of company stock worth $348,317 in the last quarter. 70.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PED. Virtu Financial LLC increased its holdings in shares of PEDEVCO by 129.9% during the fourth quarter. Virtu Financial LLC now owns 38,045 shares of the company’s stock valued at $30,000 after acquiring an additional 21,499 shares in the last quarter. Renaissance Technologies LLC increased its stake in PEDEVCO by 19.7% during the 4th quarter. Renaissance Technologies LLC now owns 292,736 shares of the company’s stock valued at $228,000 after purchasing an additional 48,132 shares in the last quarter. Finally, Citadel Advisors LLC raised its holdings in PEDEVCO by 232.5% in the fourth quarter. Citadel Advisors LLC now owns 186,415 shares of the company’s stock worth $145,000 after buying an additional 130,349 shares during the last quarter. Institutional investors own 3.26% of the company’s stock.

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.