PEDEVCO (NYSE:PED) Coverage Initiated by Analysts at StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of PEDEVCO (NYSE:PED) in a research report issued to clients and investors on Monday. The firm set a “sell” rating on the stock.

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

PEDEVCO Price Performance

Shares of NYSE:PED opened at $0.83 on Monday. The stock’s 50 day moving average price is $0.83 and its 200 day moving average price is $0.90. The stock has a market cap of $73.92 million, a price-to-earnings ratio of 41.32 and a beta of 0.52. PEDEVCO has a 12 month low of $0.61 and a 12 month high of $1.10.

Insider Activity at PEDEVCO

In related news, CAO Paul Anthony Pinkston sold 35,000 shares of PEDEVCO stock in a transaction on Friday, December 27th. The stock was sold at an average price of $0.74, for a total value of $25,900.00. Following the transaction, the chief accounting officer now directly owns 714,700 shares in the company, valued at $528,878. The trade was a 4.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 70.60% 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.