Pedevco (NYSEAMERICAN:PED) Stock Price Passes Below Two Hundred Day Moving Average – Should You Sell?

Pedevco Corp. (NYSEAMERICAN:PED) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $13.66 and traded as low as $12.82. Pedevco shares last traded at $13.09, with a volume of 11,846 shares traded.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of Pedevco from a “strong sell” rating to a “hold” rating in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy”.

Pedevco Stock Performance

The stock has a market capitalization of $175.96 million, a P/E ratio of 441.48 and a beta of 0.23. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.42. The company has a 50-day moving average price of $12.13 and a two-hundred day moving average price of $13.67.

Pedevco (NYSEAMERICAN:PED) last released its earnings results on Thursday, August 13th. The company reported $1.31 EPS for the quarter, topping the consensus estimate of $0.36 by $0.95. The business had revenue of $46.11 million during the quarter, compared to analysts’ expectations of $38.00 million. Pedevco had a positive return on equity of 0.67% and a negative net margin of 14.61%. On average, equities analysts forecast that Pedevco Corp. will post 0.82 earnings per share for the current year.

Insider Activity at Pedevco

In other news, VP Moore Clark sold 5,277 shares of Pedevco stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $12.53, for a total value of $66,120.81. Following the completion of the sale, the vice president owned 45,385 shares in the company, valued at $568,674.05. The trade was a 10.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have sold 29,057 shares of company stock worth $405,169. Company insiders own 54.90% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Pedevco stock. Juniper Capital Advisors L.P. purchased a new position in Pedevco Corp. (NYSEAMERICAN:PED) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 196,359 shares of the company’s stock, valued at approximately $110,000. Pedevco accounts for approximately 0.0% of Juniper Capital Advisors L.P.’s investment portfolio, making the stock its 2nd biggest position. Juniper Capital Advisors L.P. owned about 0.21% of Pedevco as of its most recent SEC filing. Institutional investors own 3.26% of the company’s stock.

About Pedevco

Pedevco Corp is an independent oil and gas exploration and production company incorporated in Delaware and listed on the NYSE American under the ticker symbol PED. The firm focuses on acquiring, developing and producing hydrocarbon assets, with a strategic emphasis on shallow water and onshore properties in Trinidad and Tobago. Since its listing, Pedevco has pursued opportunities to expand reserves through targeted exploration and development projects in one of the Caribbean’s most prolific hydrocarbon-producing regions.

The company’s portfolio centers on two primary concession areas in Trinidad and Tobago: the O-55 shallow water offshore block and the onshore Block 3(a) license.