PEDEVCO (NYSE:PED) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of PEDEVCO (NYSE:PED) in a research note issued to investors on Friday. The firm issued a sell rating on the stock.

Separately, D. Boral Capital cut their price target 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 Stock Up 0.6 %

Shares of NYSE:PED opened at $0.78 on Friday. The business has a 50-day moving average price of $0.81 and a 200-day moving average price of $0.88. The stock has a market cap of $69.81 million, a price-to-earnings ratio of 39.02 and a beta of 0.52. PEDEVCO has a 52-week low of $0.65 and a 52-week high of $1.10.

Insider Buying and Selling at PEDEVCO

In other news, CEO John Douglas Schick sold 58,334 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $0.86, for a total transaction of $50,167.24. Following the completion of the sale, the chief executive officer now owns 1,197,133 shares in the company, valued at approximately $1,029,534.38. The trade was a 4.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Moore Clark sold 50,000 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $0.86, for a total value of $43,000.00. Following the completion of the sale, the vice president now owns 855,334 shares of the company’s stock, valued at approximately $735,587.24. This represents a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 476,334 shares of company stock valued at $374,217 over the last quarter. Corporate 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.