Pedevco (NYSEAMERICAN:PED) Major Shareholder Purchases $1,911,910.00 in Stock

Pedevco Corp. (NYSEAMERICAN:PED) major shareholder Simon Kukes acquired 147,070 shares of the stock in a transaction on Thursday, October 8th. The stock was bought at an average price of $13.00 per share, for a total transaction of $1,911,910.00. Following the transaction, the insider owned 4,137,543 shares in the company, valued at approximately $53,788,059. This represents a 3.69% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Pedevco Price Performance

Shares of NYSEAMERICAN PED opened at $13.48 on Friday. The stock has a market capitalization of $179.15 million, a price-to-earnings ratio of 449.48 and a beta of 0.41. Pedevco Corp. has a 12 month low of $8.64 and a 12 month high of $18.89. The firm’s 50 day simple moving average is $13.37 and its 200-day simple moving average is $13.60. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.78 and a quick ratio of 0.78.

Pedevco (NYSEAMERICAN:PED) last posted its earnings results on Thursday, August 13th. The company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.95. Pedevco had a negative net margin of 14.61% and a positive return on equity of 0.67%. The firm had revenue of $46.11 million during the quarter, compared to analyst estimates of $38.00 million. Analysts expect that Pedevco Corp. will post 0.82 EPS for the current year.

Analyst Ratings Changes

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 research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy”.

Hedge Funds Weigh In On Pedevco

A hedge fund recently bought a new stake in Pedevco stock. State Street Corp acquired a new stake in Pedevco Corp. (NYSEAMERICAN:PED) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,325 shares of the company’s stock, valued at approximately $152,000. State Street Corp owned approximately 0.09% of Pedevco at the end of the most recent reporting period. 3.26% of the stock is owned by institutional investors and hedge funds.

Pedevco Company Profile

PEDEVCO Corp. (NYSE American: PED) is an independent energy company engaged in the acquisition, development and production of oil and natural gas properties in the United States. The company focuses on building a portfolio of domestic energy assets and generating production through the development of existing properties.

PEDEVCO’s activities have included oil and natural gas operations in major U.S. producing regions, including the Permian Basin and the Denver-Julesburg Basin. Its operations generally involve acquiring mineral and leasehold interests, drilling and completing wells, and managing production and related field activities.

The company was formerly known as Pacific Energy Development Corporation before adopting the PEDEVCO name.