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

Stock analysts at StockNews.com assumed coverage on shares of PEDEVCO (NYSE:PED) in a research report issued on Sunday. The firm set a “sell” rating on the stock.

Separately, D. Boral Capital reduced their price target 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 Up 3.3 %

NYSE PED opened at $0.75 on Friday. The company has a market cap of $66.85 million, a price-to-earnings ratio of 37.37 and a beta of 0.51. PEDEVCO has a twelve month low of $0.61 and a twelve month high of $1.10. The business’s fifty day moving average is $0.85 and its 200 day moving average is $0.90.

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.