PEDEVCO (NYSE:PED) Shares to Reverse Split on Friday, March 13th

PEDEVCO Corp. (NYSE:PED) shares are set to reverse split before the market opens on Friday, March 13th. The 1-20 reverse split was announced on Tuesday, March 3rd. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, March 12th.

PEDEVCO Stock Up 18.5%

Shares of PED stock opened at $0.76 on Monday. PEDEVCO has a fifty-two week low of $0.43 and a fifty-two week high of $0.82. The firm’s 50 day moving average price is $0.59 and its two-hundred day moving average price is $0.58. The stock has a market cap of $72.31 million, a price-to-earnings ratio of 37.87 and a beta of 0.37.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PED shares. Zacks Research upgraded PEDEVCO to a “hold” rating in a report on Wednesday, November 19th. Roth Mkm raised PEDEVCO to a “strong-buy” rating in a research report on Monday, November 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, PEDEVCO has an average rating of “Buy” and a consensus target price of $1.50.

Hedge Funds Weigh In On PEDEVCO

An institutional investor recently bought a new position in PEDEVCO stock. Juniper Capital Advisors L.P. acquired a new position in shares of PEDEVCO Corp. (NYSE:PED) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 196,359 shares of the company’s stock, valued at approximately $110,000. PEDEVCO makes up approximately 0.0% of Juniper Capital Advisors L.P.’s portfolio, making the stock its 2nd largest holding. Juniper Capital Advisors L.P. owned about 0.21% of PEDEVCO as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 3.26% of the company’s stock.

About PEDEVCO

Pedevco Corp is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties. The company focuses on leveraging a low-cost development model to unlock value from its onshore assets, applying reservoir characterization, well optimization and cost-effective completion techniques. Pedevco’s operational strategy emphasizes efficient use of existing infrastructure and disciplined capital allocation to maximize production and reserves recovery.

The company’s asset portfolio is concentrated in onshore U.S.