StockNews.com Begins Coverage on PEDEVCO (NYSE:PED)

StockNews.com initiated coverage on shares of PEDEVCO (NYSE:PED) in a research report report published on Thursday. The brokerage issued a sell rating on the stock.

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

PEDEVCO Price Performance

PED opened at $0.92 on Thursday. PEDEVCO has a one year low of $0.61 and a one year high of $1.13. The firm has a market capitalization of $82.21 million, a P/E ratio of 92.00 and a beta of 0.55. The company has a fifty day moving average price of $0.94 and a 200-day moving average price of $0.87.

PEDEVCO (NYSE:PED) last released its quarterly earnings results on Wednesday, August 14th. The company reported $0.03 earnings per share for the quarter, meeting the consensus estimate 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 analysts’ expectations of $9.05 million. On average, analysts expect that PEDEVCO will post 0.06 earnings per share 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.