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

StockNews.com started coverage on shares of PEDEVCO (NYSE:PED) in a research note published on Tuesday. The firm issued a sell rating on the stock.

Separately, Alliance Global Partners initiated coverage on shares of PEDEVCO in a research report on Wednesday, July 17th. They set a buy rating and a $1.75 price target for the company.

PEDEVCO Stock Performance

Shares of NYSE:PED opened at $0.93 on Tuesday. The firm has a market capitalization of $83.10 million, a P/E ratio of 93.00 and a beta of 0.55. The stock has a 50 day moving average price of $0.94 and a 200-day moving average price of $0.85. PEDEVCO has a 52-week low of $0.61 and a 52-week high of $1.13.

PEDEVCO (NYSE:PED) last issued its quarterly earnings results on Wednesday, May 15th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The company had revenue of $8.12 million for the quarter, compared to analysts’ expectations of $6.47 million. PEDEVCO had a return on equity of 1.31% and a net margin of 3.99%. On average, equities analysts forecast that PEDEVCO will post 0.05 EPS for the current fiscal 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.