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

StockNews.com started coverage on shares of PEDEVCO (NYSE:PED) in a research note issued to investors on Tuesday morning. The firm issued a sell rating on the stock.

Separately, D. Boral Capital lowered their target price on PEDEVCO from $2.25 to $1.50 and set a “buy” rating on the stock in a report on Wednesday, November 20th.

PEDEVCO Stock Down 0.4 %

NYSE:PED opened at $0.71 on Tuesday. PEDEVCO has a 12 month low of $0.69 and a 12 month high of $1.10. The company’s 50 day moving average is $0.79 and its 200-day moving average is $0.85. The firm has a market cap of $63.27 million, a price-to-earnings ratio of 35.37 and a beta of 0.35.

Insider Activity at PEDEVCO

In other news, CAO Paul Anthony Pinkston sold 35,000 shares of PEDEVCO stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $0.74, for a total value of $25,900.00. Following the completion of the transaction, the chief accounting officer now owns 714,700 shares in the company, valued at approximately $528,878. The trade was a 4.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John Douglas Schick sold 58,334 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $0.86, for a total value of $50,167.24. Following the completion of the transaction, the chief executive officer now directly owns 1,197,133 shares in the company, valued at $1,029,534.38. The trade was a 4.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 476,334 shares of company stock valued at $374,217 in the last 90 days. 70.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PEDEVCO

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