PEDEVCO (NYSE:PED) Coverage Initiated by Analysts at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of PEDEVCO (NYSE:PED) in a research report issued on Wednesday. The firm set a “sell” rating on the stock.

Separately, Alliance Global Partners started coverage on shares of PEDEVCO in a report on Wednesday, July 17th. They issued a “buy” rating and a $1.75 target price on the stock.

PEDEVCO Stock Performance

Shares of PED stock opened at $1.01 on Wednesday. The stock’s 50-day moving average is $0.91 and its two-hundred day moving average is $0.91. PEDEVCO has a 1 year low of $0.61 and a 1 year high of $1.10. The firm has a market cap of $90.25 million, a price-to-earnings ratio of 101.00 and a beta of 0.58.

PEDEVCO (NYSE:PED) last released its quarterly earnings results on Wednesday, August 14th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.03. PEDEVCO had a return on equity of 0.38% and a net margin of 1.12%. The firm had revenue of $11.81 million for the quarter, compared to the consensus estimate of $9.05 million. As a group, research analysts predict that PEDEVCO will post 0.08 EPS for the current year.

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.