StockNews.com Initiates Coverage on PEDEVCO (NYSE:PED)

Research analysts at StockNews.com started coverage on shares of PEDEVCO (NYSE:PED) in a report issued on Sunday. The firm set a “sell” rating on the stock.

Separately, 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 Stock Performance

NYSE PED opened at $0.87 on Friday. The stock has a 50-day simple moving average of $0.93 and a 200 day simple moving average of $0.89. PEDEVCO has a twelve month low of $0.61 and a twelve month high of $1.13. The stock has a market capitalization of $77.68 million, a PE ratio of 87.09 and a beta of 0.58.

PEDEVCO (NYSE:PED) last issued its quarterly earnings results on Wednesday, August 14th. The company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. The company had revenue of $11.81 million during the quarter, compared to analyst estimates of $9.05 million. PEDEVCO had a return on equity of 0.38% and a net margin of 1.12%. As a group, equities research analysts forecast that PEDEVCO will post 0.08 EPS for the current fiscal 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.