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

Analysts at StockNews.com assumed coverage on shares of PEDEVCO (NYSE:PED) in a research note issued to investors on Friday. The brokerage set a “sell” rating on the stock.

PEDEVCO Stock Performance

PED stock opened at $0.91 on Friday. The firm’s 50-day moving average is $0.93 and its two-hundred day moving average is $0.82. The company has a market capitalization of $81.32 million, a price-to-earnings ratio of 91.09 and a beta of 0.54. PEDEVCO has a 52 week low of $0.61 and a 52 week high of $1.13.

PEDEVCO (NYSE:PED) last announced its earnings results on Wednesday, May 15th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. PEDEVCO had a return on equity of 1.31% and a net margin of 3.99%. The firm had revenue of $8.12 million for the quarter, compared to analysts’ expectations of $6.47 million. On average, equities research analysts predict that PEDEVCO will post 0.05 earnings per share for the current year.

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.