StockNews.com Initiates Coverage on PEDEVCO (NYSE:PED)

StockNews.com assumed coverage on shares of PEDEVCO (NYSE:PED) in a report released on Saturday. The brokerage set a “sell” rating on the stock.

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

PEDEVCO Trading Down 0.1 %

Shares of PED stock opened at $0.74 on Friday. The company’s fifty day moving average price is $0.87 and its 200-day moving average price is $0.91. The stock has a market cap of $66.07 million, a PE ratio of 37.02 and a beta of 0.51. PEDEVCO has a 12 month low of $0.61 and a 12 month high of $1.10.

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.