PEDEVCO (NYSE:PED) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of PEDEVCO (NYSE:PED) in a research report released on Saturday. The brokerage issued a sell rating on the stock.

Separately, D. Boral Capital restated a “buy” rating and issued a $1.50 price objective on shares of PEDEVCO in a research note on Wednesday, April 2nd.

PEDEVCO Stock Performance

PED opened at $0.56 on Friday. The firm has a market cap of $50.69 million, a P/E ratio of 27.76 and a beta of 0.29. The business has a 50 day moving average price of $0.70 and a 200 day moving average price of $0.81. PEDEVCO has a twelve month low of $0.47 and a twelve month high of $1.10.

Insider Transactions at PEDEVCO

In other PEDEVCO news, CEO John Douglas Schick sold 120,000 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $0.76, for a total value of $91,200.00. Following the completion of the sale, the chief executive officer now directly owns 1,577,133 shares of the company’s stock, valued at $1,198,621.08. This represents a 7.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Moore Clark sold 50,000 shares of the firm’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $0.86, for a total transaction of $43,000.00. Following the completion of the sale, the vice president now owns 855,334 shares in the company, valued at $735,587.24. This represents a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 441,334 shares of company stock worth $348,317. Company insiders own 70.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Virtu Financial LLC increased its stake in PEDEVCO by 129.9% during the fourth quarter. Virtu Financial LLC now owns 38,045 shares of the company’s stock valued at $30,000 after acquiring an additional 21,499 shares during the period. Citadel Advisors LLC lifted its position in shares of PEDEVCO by 232.5% in 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 period. Finally, Renaissance Technologies LLC grew its holdings in shares of PEDEVCO by 19.7% during the 4th quarter. Renaissance Technologies LLC now owns 292,736 shares of the company’s stock worth $228,000 after purchasing an additional 48,132 shares in the last quarter. Institutional investors and hedge funds own 3.26% of the company’s stock.

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.