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

StockNews.com began coverage on shares of PEDEVCO (NYSE:PED) in a research report sent to investors on Saturday. The firm issued a sell rating on the stock.

Separately, Alliance Global Partners initiated coverage on PEDEVCO in a research note on Wednesday, July 17th. They set a “buy” rating and a $1.75 price objective for the company.

PEDEVCO Trading Down 1.4 %

PEDEVCO stock opened at $0.91 on Friday. The company has a market cap of $81.51 million, a PE ratio of 91.22 and a beta of 0.58. PEDEVCO has a 1 year low of $0.61 and a 1 year high of $1.10. The company’s 50-day moving average is $0.93 and its two-hundred day moving average is $0.93.

PEDEVCO (NYSE:PED) last announced its quarterly earnings data 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 net margin of 1.12% and a return on equity of 0.38%. The business had revenue of $11.81 million for the quarter, compared to analyst estimates of $9.05 million. Research analysts forecast that PEDEVCO will post 0.08 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.