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

StockNews.com initiated coverage on shares of PEDEVCO (NYSE:PED) in a research note published on Saturday. The brokerage issued a sell rating on the stock.

Separately, Alliance Global Partners assumed coverage on PEDEVCO in a research report on Wednesday, July 17th. They set a “buy” rating and a $1.75 price target for the company.

PEDEVCO Price Performance

PED opened at $0.91 on Friday. The company has a market capitalization of $81.51 million, a price-to-earnings ratio of 91.22 and a beta of 0.58. The business’s 50-day moving average price is $0.93 and its two-hundred day moving average price is $0.93. PEDEVCO has a 1 year low of $0.61 and a 1 year high of $1.10.

PEDEVCO (NYSE:PED) last announced its earnings results on Wednesday, August 14th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. PEDEVCO had a return on equity of 0.38% and a net margin of 1.12%. The business had revenue of $11.81 million for the quarter, compared to analyst estimates of $9.05 million. Sell-side analysts anticipate that PEDEVCO will post 0.08 earnings per share for the current fiscal year.

PEDEVCO Company Profile

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.