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

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

Separately, D. Boral Capital lowered their price target on shares of PEDEVCO from $2.25 to $1.50 and set a “buy” rating for the company in a research note on Wednesday, November 20th.

PEDEVCO Stock Up 5.9 %

PEDEVCO stock opened at $0.95 on Wednesday. The company has a market capitalization of $85.02 million, a PE ratio of 47.52 and a beta of 0.52. The firm has a fifty day simple moving average of $0.82 and a two-hundred day simple moving average of $0.90. PEDEVCO has a twelve month low of $0.61 and a twelve month high of $1.10.

Insider Activity at PEDEVCO

In other PEDEVCO news, CAO Paul Anthony Pinkston sold 35,000 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were 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 approximately $528,878. This trade represents a 4.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 70.60% of the stock is owned by insiders.

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.