PEDEVCO’s (PED) “Buy” Rating Reiterated at D. Boral Capital

PEDEVCO (NYSE:PED)‘s stock had its “buy” rating reaffirmed by research analysts at D. Boral Capital in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $1.50 price target on the stock. D. Boral Capital’s price target points to a potential upside of 115.42% from the stock’s previous close.

Separately, StockNews.com initiated coverage on PEDEVCO in a research note on Thursday, March 27th. They issued a “sell” rating for the company.

PEDEVCO Trading Down 0.5 %

PED opened at $0.70 on Wednesday. PEDEVCO has a twelve month low of $0.68 and a twelve month high of $1.10. The stock has a market cap of $62.32 million, a PE ratio of 34.83 and a beta of 0.35. The business’s 50 day moving average is $0.75 and its 200-day moving average is $0.83.

Insider Activity at PEDEVCO

In related news, CEO John Douglas Schick sold 120,000 shares of PEDEVCO stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $0.76, for a total transaction of $91,200.00. Following the transaction, the chief executive officer now directly owns 1,577,133 shares of the company’s stock, valued at $1,198,621.08. The trade was a 7.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Moore Clark sold 50,000 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $0.86, for a total transaction of $43,000.00. Following the transaction, the vice president now owns 855,334 shares of the company’s stock, valued at approximately $735,587.24. This trade represents a 5.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 441,334 shares of company stock worth $348,317 over the last quarter. 70.60% of the stock is currently owned by company insiders.

Institutional Trading of PEDEVCO

A number of hedge funds and other institutional investors have recently made changes to their positions in PED. Virtu Financial LLC grew its position in PEDEVCO by 129.9% in the fourth quarter. Virtu Financial LLC now owns 38,045 shares of the company’s stock worth $30,000 after buying an additional 21,499 shares during the last quarter. Citadel Advisors LLC boosted its stake in shares of PEDEVCO by 232.5% during the 4th quarter. Citadel Advisors LLC now owns 186,415 shares of the company’s stock worth $145,000 after acquiring an additional 130,349 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of PEDEVCO by 19.7% in the 4th quarter. Renaissance Technologies LLC now owns 292,736 shares of the company’s stock worth $228,000 after acquiring an additional 48,132 shares during the last quarter. 3.26% of the stock is currently owned by institutional investors.

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.