StockNews.com initiated coverage on shares of PEDEVCO (NYSE:PED – Free Report) in a research report released on Wednesday. The firm issued a sell rating on the stock.
PEDEVCO Price Performance
NYSE:PED opened at $1.03 on Wednesday. The firm’s fifty day moving average price is $0.78 and its 200 day moving average price is $0.81. PEDEVCO has a 1-year low of $0.61 and a 1-year high of $1.13. The firm has a market cap of $92.04 million, a price-to-earnings ratio of 46.50 and a beta of 0.51.
PEDEVCO (NYSE:PED – Get Free Report) last posted its quarterly earnings data on Friday, March 15th. The company reported ($0.05) earnings per share for the quarter. PEDEVCO had a net margin of 6.97% and a return on equity of 2.31%. The firm had revenue of $6.74 million during the quarter, compared to analysts’ expectations of $6.39 million. As a group, analysts expect that PEDEVCO will post 0.03 earnings per share for the current fiscal year.
Insider Buying and Selling at PEDEVCO
Institutional Investors Weigh In On PEDEVCO
A hedge fund recently raised its stake in PEDEVCO stock. Northern Trust Corp lifted its position in shares of PEDEVCO Corp. (NYSE:PED – Free Report) by 38.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 56,342 shares of the company’s stock after buying an additional 15,770 shares during the quarter. Northern Trust Corp owned approximately 0.06% of PEDEVCO worth $43,000 at the end of the most recent quarter. 3.26% of the stock is owned by institutional investors and hedge funds.
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 interest in the Permian Basin asset with approximately 22,271 net acres located in New Mexico, the United States; and D-J Basin asset with approximately 19,214 net acres located in Wyoming, the United States.
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