Roth Capital Comments on PEDEVCO Corp.’s Q2 2024 Earnings (NYSE:PED)

PEDEVCO Corp. (NYSE:PED) – Equities research analysts at Roth Capital upped their Q2 2024 earnings per share estimates for PEDEVCO in a report released on Sunday, August 11th. Roth Capital analyst J. White now anticipates that the company will post earnings per share of $0.03 for the quarter, up from their prior estimate of $0.01. The consensus estimate for PEDEVCO’s current full-year earnings is $0.05 per share. Roth Capital also issued estimates for PEDEVCO’s FY2024 earnings at $0.06 EPS, Q2 2025 earnings at $0.01 EPS, Q3 2025 earnings at $0.02 EPS, Q4 2025 earnings at $0.02 EPS and FY2025 earnings at $0.08 EPS.

A number of other research analysts have also recently commented on the company. StockNews.com assumed coverage on PEDEVCO in a research note on Thursday. They issued a “sell” rating for the company. Alliance Global Partners began coverage on PEDEVCO in a research note on Wednesday, July 17th. They set a “buy” rating and a $1.75 price target on the stock.

PEDEVCO Trading Down 4.7 %

Shares of NYSE PED opened at $0.90 on Wednesday. The company has a market cap of $80.39 million, a price-to-earnings ratio of 90.12 and a beta of 0.55. PEDEVCO has a 12 month low of $0.61 and a 12 month high of $1.13. The stock has a 50-day moving average price of $0.94 and a two-hundred day moving average price of $0.87.

PEDEVCO (NYSE:PED) last posted its quarterly earnings results on Wednesday, May 15th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. The company had revenue of $8.12 million during the quarter, compared to analysts’ expectations of $6.47 million. PEDEVCO had a return on equity of 1.31% and a net margin of 3.99%.

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.