PEDEVCO (NYSE:PED) Receives New Coverage from Analysts at StockNews.com

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

Separately, Alliance Global Partners began coverage on PEDEVCO in a report on Wednesday, July 17th. They set a buy rating and a $1.75 price objective for the company.

PEDEVCO Stock Performance

NYSE PED opened at $0.87 on Wednesday. The business’s 50 day moving average price is $0.93 and its 200-day moving average price is $0.86. PEDEVCO has a fifty-two week low of $0.61 and a fifty-two week high of $1.13. The company has a market cap of $78.07 million, a P/E ratio of 87.52 and a beta of 0.55.

PEDEVCO (NYSE:PED) last posted its quarterly earnings data on Wednesday, May 15th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. PEDEVCO had a net margin of 3.99% and a return on equity of 1.31%. The business had revenue of $8.12 million for the quarter, compared to analysts’ expectations of $6.47 million. As a group, equities analysts predict that PEDEVCO will post 0.05 EPS for the current year.

PEDEVCO Company Profile

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.