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

Equities researchers at StockNews.com began coverage on shares of PEDEVCO (NYSE:PED) in a research note issued on Sunday. The brokerage set a “sell” rating on the stock.

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

PEDEVCO Trading Down 5.0 %

Shares of PED stock opened at $0.76 on Friday. The stock has a market capitalization of $68.03 million, a P/E ratio of 38.02 and a beta of 0.52. The firm’s 50 day moving average is $0.80 and its 200 day moving average is $0.87. PEDEVCO has a 12 month low of $0.65 and a 12 month high of $1.10.

Insider Buying and Selling

In related news, VP Moore Clark sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $0.86, for a total transaction of $43,000.00. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John Douglas Schick sold 120,000 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $0.76, for a total transaction of $91,200.00. Following the sale, the chief executive officer now directly owns 1,577,133 shares in the company, valued at $1,198,621.08. This trade represents a 7.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 476,334 shares of company stock valued at $374,217. Company insiders own 70.60% of the company’s stock.

Institutional Trading of PEDEVCO

Hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu Financial LLC increased its holdings in PEDEVCO by 129.9% during the 4th quarter. Virtu Financial LLC now owns 38,045 shares of the company’s stock worth $30,000 after acquiring an additional 21,499 shares during the period. Citadel Advisors LLC increased its holdings in shares of PEDEVCO by 232.5% in the 4th quarter. Citadel Advisors LLC now owns 186,415 shares of the company’s stock worth $145,000 after buying an additional 130,349 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of PEDEVCO by 19.7% in the 4th quarter. Renaissance Technologies LLC now owns 292,736 shares of the company’s stock worth $228,000 after buying an additional 48,132 shares during the last quarter. Institutional investors own 3.26% of the company’s stock.

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.