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

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

Separately, D. Boral Capital lowered their price target on PEDEVCO from $2.25 to $1.50 and set a “buy” rating for the company in a research report on Wednesday, November 20th.

PEDEVCO Stock Performance

PED opened at $0.84 on Wednesday. PEDEVCO has a 1-year low of $0.61 and a 1-year high of $1.10. The company has a market cap of $74.73 million, a P/E ratio of 41.85 and a beta of 0.60. The company has a fifty day moving average price of $0.93 and a two-hundred day moving average price of $0.92.

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.