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

StockNews.com started coverage on shares of PEDEVCO (NYSE:PED) in a research report sent to investors on Tuesday. The firm issued a sell rating on the stock.

Separately, Alliance Global Partners started coverage on shares of PEDEVCO in a research note on Wednesday, July 17th. They issued a buy rating and a $1.75 target price for the company.

PEDEVCO Price Performance

PED stock opened at $0.93 on Tuesday. PEDEVCO has a 12 month low of $0.61 and a 12 month high of $1.13. The firm has a market capitalization of $83.10 million, a PE ratio of 93.00 and a beta of 0.55. The company’s 50 day simple moving average is $0.94 and its 200-day simple moving average is $0.85.

PEDEVCO (NYSE:PED) last announced its earnings results on Wednesday, May 15th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. PEDEVCO had a return on equity of 1.31% and a net margin of 3.99%. The firm had revenue of $8.12 million for the quarter, compared to analysts’ expectations of $6.47 million. As a group, sell-side analysts anticipate that PEDEVCO will post 0.05 earnings per share for the current year.

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.