D. Boral Capital Reiterates “Buy” Rating for PEDEVCO (NYSE:PED)

PEDEVCO (NYSE:PED)‘s stock had its “buy” rating reissued by D. Boral Capital in a report released on Thursday,Benzinga reports. They presently have a $1.50 price target on the stock. D. Boral Capital’s target price points to a potential upside of 104.92% from the company’s current price.

Separately, StockNews.com assumed coverage on shares of PEDEVCO in a research report on Tuesday. They issued a “sell” rating on the stock.

PEDEVCO Trading Up 3.8 %

PED stock opened at $0.73 on Thursday. The company’s 50 day moving average is $0.79 and its 200 day moving average is $0.85. The stock has a market cap of $65.51 million, a price-to-earnings ratio of 36.62 and a beta of 0.35. PEDEVCO has a 1-year low of $0.69 and a 1-year high of $1.10.

Insider Buying and Selling

In other PEDEVCO news, CAO Paul Anthony Pinkston sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The stock was 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 owns 714,700 shares of the company’s stock, valued at $528,878. This represents a 4.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Moore Clark sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was 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 directly 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 476,334 shares of company stock worth $374,217. Insiders own 70.60% of the company’s stock.

Institutional Trading of PEDEVCO

Institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC boosted its stake in shares of PEDEVCO by 129.9% during 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 period. Citadel Advisors LLC boosted its stake in shares of PEDEVCO by 232.5% during 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 period. Finally, Renaissance Technologies LLC boosted its stake in shares of PEDEVCO by 19.7% during 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 period. Hedge funds and other 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.