PEDEVCO (NYSE:PED) Now Covered by StockNews.com

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

Separately, Alliance Global Partners initiated coverage on shares of PEDEVCO in a research report on Wednesday, July 17th. They issued a “buy” rating and a $1.75 price target on the stock.

PEDEVCO Stock Performance

Shares of NYSE PED opened at $0.93 on Monday. The firm has a market capitalization of $82.87 million, a PE ratio of -92,510.00 and a beta of 0.60. PEDEVCO has a 1 year low of $0.61 and a 1 year high of $1.10. The firm’s 50-day moving average is $0.93 and its 200-day moving average is $0.93.

PEDEVCO (NYSE:PED) last issued its earnings results on Wednesday, August 14th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. The company had revenue of $11.81 million for the quarter, compared to analyst estimates of $9.05 million. PEDEVCO had a net margin of 1.12% and a return on equity of 0.38%. As a group, equities research analysts anticipate that PEDEVCO will post 0.06 earnings per share for the current fiscal 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.