PEDEVCO (NYSE:PED) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of PEDEVCO (NYSE:PED) in a report issued on Friday morning. The firm issued a sell rating on the stock.

Separately, D. Boral Capital cut their price objective on shares of PEDEVCO from $2.25 to $1.50 and set a “buy” rating for the company in a research report on Wednesday, November 20th.

PEDEVCO Stock Performance

PED stock opened at $0.78 on Friday. The business’s 50-day moving average is $0.90 and its two-hundred day moving average is $0.91. The company has a market cap of $69.65 million, a price-to-earnings ratio of 39.02 and a beta of 0.51. PEDEVCO has a fifty-two week low of $0.61 and a fifty-two week high of $1.10.

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.