Roth Capital Forecasts PEDEVCO’s FY2024 Earnings (NYSE:PED)

PEDEVCO Corp. (NYSE:PED) – Research analysts at Roth Capital increased their FY2024 earnings per share estimates for shares of PEDEVCO in a research report issued to clients and investors on Tuesday, March 4th. Roth Capital analyst J. White now expects that the company will post earnings of $0.08 per share for the year, up from their previous forecast of $0.06. The consensus estimate for PEDEVCO’s current full-year earnings is $0.06 per share. Roth Capital also issued estimates for PEDEVCO’s Q3 2025 earnings at $0.01 EPS and FY2025 earnings at $0.05 EPS.

A number of other research firms have also commented on PED. StockNews.com initiated coverage on PEDEVCO in a research note on Monday. They issued a “sell” rating on the stock. D. Boral Capital reduced their price objective on PEDEVCO from $2.25 to $1.50 and set a “buy” rating on the stock in a research note on Wednesday, November 20th.

PEDEVCO Stock Performance

PEDEVCO stock opened at $0.71 on Thursday. The firm has a market cap of $63.09 million, a P/E ratio of 35.27 and a beta of 0.35. The business’s fifty day moving average is $0.80 and its two-hundred day moving average is $0.86. PEDEVCO has a 52 week low of $0.68 and a 52 week high of $1.10.

Insider Transactions at PEDEVCO

In other news, VP Moore Clark sold 125,000 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $0.76, for a total transaction of $95,000.00. Following the completion of the sale, the vice president now owns 1,080,334 shares in the company, valued at $821,053.84. The trade was a 10.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John Douglas Schick sold 120,000 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $0.76, for a total value of $91,200.00. Following the sale, the chief executive officer now owns 1,577,133 shares of the company’s stock, valued at approximately $1,198,621.08. The trade was a 7.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 476,334 shares of company stock worth $374,217 over the last 90 days. 70.60% of the stock is owned by insiders.

Institutional Investors Weigh In On PEDEVCO

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Citadel Advisors LLC increased its holdings in PEDEVCO by 232.5% in the fourth quarter. Citadel Advisors LLC now owns 186,415 shares of the company’s stock valued at $145,000 after purchasing an additional 130,349 shares during the last quarter. Renaissance Technologies LLC increased its holdings in PEDEVCO by 19.7% in the fourth quarter. Renaissance Technologies LLC now owns 292,736 shares of the company’s stock valued at $228,000 after purchasing an additional 48,132 shares during the last quarter. Finally, Virtu Financial LLC increased its holdings in PEDEVCO by 129.9% in the fourth quarter. Virtu Financial LLC now owns 38,045 shares of the company’s stock valued at $30,000 after purchasing an additional 21,499 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.