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

StockNews.com assumed coverage on shares of PEDEVCO (NYSE:PED) in a research note issued to investors on Saturday morning. The brokerage issued a sell rating on the stock.

Separately, Alliance Global Partners began coverage on shares of 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 $0.89 on Friday. PEDEVCO has a 52 week low of $0.61 and a 52 week high of $1.10. The firm’s fifty day moving average is $0.93 and its 200-day moving average is $0.93. The firm has a market cap of $79.84 million, a P/E ratio of 89.35 and a beta of 0.58.

PEDEVCO (NYSE:PED) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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. As a group, sell-side analysts anticipate that PEDEVCO will post 0.06 earnings per share 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.