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

StockNews.com initiated coverage on shares of PEDEVCO (NYSE:PED) in a research report sent to investors on Saturday morning. The brokerage issued a sell rating on the stock.

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

PEDEVCO Trading Down 1.7 %

PED stock opened at $0.75 on Friday. The stock has a market capitalization of $67.30 million, a P/E ratio of 37.62 and a beta of 0.52. PEDEVCO has a 12 month low of $0.65 and a 12 month high of $1.10. The firm has a 50-day moving average price of $0.80 and a 200-day moving average price of $0.87.

Insider Activity at PEDEVCO

In other PEDEVCO news, VP Moore Clark sold 125,000 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $0.76, for a total transaction of $95,000.00. Following the completion of the sale, the vice president now owns 1,080,334 shares of the company’s stock, valued at approximately $821,053.84. This represents a 10.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Paul Anthony Pinkston sold 65,000 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $0.76, for a total transaction of $49,400.00. Following the sale, the chief accounting officer now directly owns 816,700 shares of the company’s stock, valued at $620,692. This represents a 7.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 476,334 shares of company stock worth $374,217 in the last quarter. 70.60% of the stock is owned by insiders.

Institutional Trading of PEDEVCO

A hedge fund recently raised its stake in PEDEVCO stock. Virtu Financial LLC lifted its stake in shares of PEDEVCO Corp. (NYSE:PED) by 129.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 38,045 shares of the company’s stock after buying an additional 21,499 shares during the quarter. Virtu Financial LLC’s holdings in PEDEVCO were worth $30,000 as of its most recent filing with the Securities & Exchange Commission. 3.26% of the stock is owned by hedge funds and other institutional investors.

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.