FY2024 Earnings Forecast for PEDEVCO Issued By Roth Capital

PEDEVCO Corp. (NYSE:PED) – Stock analysts at Roth Capital boosted their FY2024 earnings estimates for shares of PEDEVCO in a report issued on Tuesday, March 4th. Roth Capital analyst J. White now anticipates that the company will post earnings per share of $0.08 for the year, up from their prior forecast of $0.06. The consensus estimate for PEDEVCO’s current full-year earnings is $0.06 per share. Roth Capital also issued estimates for PEDEVCO’s Q3 2025 earnings at $0.01 EPS and FY2025 earnings at $0.05 EPS.

PED has been the subject of several other research reports. StockNews.com assumed coverage on shares of PEDEVCO in a research report on Monday. They set a “sell” rating for the company. D. Boral Capital dropped their target price 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 Up 2.6 %

PEDEVCO stock opened at $0.72 on Thursday. The stock has a market cap of $64.43 million, a price-to-earnings ratio of 36.01 and a beta of 0.35. PEDEVCO has a 12-month low of $0.68 and a 12-month high of $1.10. The business’s 50-day simple moving average is $0.80 and its 200 day simple moving average is $0.86.

Insider Activity at PEDEVCO

In related news, VP Moore Clark sold 125,000 shares of the firm’s stock in a transaction 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 sale, the vice president now directly owns 1,080,334 shares in the company, valued at $821,053.84. This trade represents a 10.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Paul Anthony Pinkston sold 65,000 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $0.76, for a total value of $49,400.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 476,334 shares of company stock worth $374,217. 70.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PEDEVCO

Several institutional investors have recently bought and sold shares of PED. Citadel Advisors LLC raised its holdings in shares of PEDEVCO by 232.5% in the fourth quarter. Citadel Advisors LLC now owns 186,415 shares of the company’s stock valued at $145,000 after purchasing an additional 130,349 shares during the last quarter. Renaissance Technologies LLC grew its position in PEDEVCO by 19.7% in the fourth quarter. Renaissance Technologies LLC now owns 292,736 shares of the company’s stock valued at $228,000 after purchasing an additional 48,132 shares in the last quarter. Finally, Virtu Financial LLC increased its stake in PEDEVCO by 129.9% in the 4th quarter. Virtu Financial LLC now owns 38,045 shares of the company’s stock valued at $30,000 after buying an additional 21,499 shares during the last quarter. Institutional investors own 3.26% of the company’s stock.

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.