PEDEVCO (NYSE:PED) Earns Sell Rating from Analysts at StockNews.com

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

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

PEDEVCO Trading Up 3.8 %

PEDEVCO stock opened at $0.78 on Thursday. The firm’s fifty day moving average price is $0.82 and its two-hundred day moving average price is $0.89. The firm has a market capitalization of $70.24 million, a price-to-earnings ratio of 39.26 and a beta of 0.52. PEDEVCO has a 1-year low of $0.65 and a 1-year high of $1.10.

Insiders Place Their Bets

In other PEDEVCO news, VP Moore Clark sold 125,000 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $0.76, for a total value of $95,000.00. Following the completion of the transaction, the vice president now directly owns 1,080,334 shares of the company’s stock, valued at $821,053.84. This trade represents a 10.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Paul Anthony Pinkston sold 35,000 shares of the firm’s stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $0.74, for a total value of $25,900.00. Following the completion of the sale, the chief accounting officer now directly owns 714,700 shares in the company, valued at approximately $528,878. The trade was a 4.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 476,334 shares of company stock worth $374,217 over the last quarter. 70.60% of the stock is currently owned by company 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.