PEDEVCO (NYSE:PED) Given “Buy” Rating at D. Boral Capital

D. Boral Capital reissued their buy rating on shares of PEDEVCO (NYSE:PED) in a research note issued to investors on Wednesday morning,Benzinga reports. D. Boral Capital currently has a $1.50 price objective on the stock.

Separately, StockNews.com started coverage on shares of PEDEVCO in a research report on Thursday, March 27th. They set a “sell” rating on the stock.

PEDEVCO Stock Performance

NYSE PED opened at $0.71 on Wednesday. PEDEVCO has a one year low of $0.68 and a one year high of $1.10. The business has a fifty day moving average price of $0.75 and a 200 day moving average price of $0.83. The company has a market cap of $63.98 million, a P/E ratio of 35.76 and a beta of 0.35.

Insider Buying and Selling

In other news, CAO Paul Anthony Pinkston sold 65,000 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $0.76, for a total value of $49,400.00. Following the transaction, the chief accounting officer now owns 816,700 shares of the company’s stock, valued at $620,692. This represents a 7.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John Douglas Schick sold 58,334 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $0.86, for a total value of $50,167.24. Following the sale, the chief executive officer now directly owns 1,197,133 shares of the company’s stock, valued at $1,029,534.38. The trade was a 4.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 441,334 shares of company stock worth $348,317. Company insiders own 70.60% of the company’s stock.

Institutional Trading of PEDEVCO

Institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC lifted its stake in PEDEVCO by 129.9% during the fourth quarter. Virtu Financial LLC now owns 38,045 shares of the company’s stock worth $30,000 after purchasing an additional 21,499 shares in the last quarter. Citadel Advisors LLC boosted its holdings in PEDEVCO by 232.5% during the 4th quarter. Citadel Advisors LLC now owns 186,415 shares of the company’s stock valued at $145,000 after acquiring an additional 130,349 shares during the period. Finally, Renaissance Technologies LLC grew its position in PEDEVCO by 19.7% in the 4th quarter. Renaissance Technologies LLC now owns 292,736 shares of the company’s stock valued at $228,000 after acquiring an additional 48,132 shares in the last quarter. Institutional investors and hedge funds own 3.26% of the company’s stock.

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.