Insider Selling: PEDEVCO Corp. (NYSE:PED) CAO Sells 65,000 Shares of Stock

PEDEVCO Corp. (NYSE:PED) CAO Paul Anthony Pinkston sold 65,000 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $0.76, for a total value of $49,400.00. Following the sale, the chief accounting officer now directly owns 816,700 shares in the company, valued at approximately $620,692. This trade represents a 7.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Paul Anthony Pinkston also recently made the following trade(s):

• On Thursday, January 23rd, Paul Anthony Pinkston sold 23,000 shares of PEDEVCO stock. The stock was sold at an average price of $0.85, for a total transaction of $19,550.00.
• On Friday, December 27th, Paul Anthony Pinkston sold 35,000 shares of PEDEVCO stock. The shares were sold at an average price of $0.74, for a total transaction of $25,900.00.

PEDEVCO Stock Performance

Shares of PED opened at $0.78 on Thursday. The firm has a 50-day simple moving average of $0.82 and a 200-day simple moving average of $0.89. The company has a market capitalization of $70.24 million, a price-to-earnings ratio of 39.26 and a beta of 0.52. PEDEVCO Corp. has a fifty-two week low of $0.65 and a fifty-two week high of $1.10.

Wall Street Analysts Forecast Growth

PED has been the subject of a number of recent research reports. D. Boral Capital decreased their target price on PEDEVCO from $2.25 to $1.50 and set a “buy” rating for the company in a report on Wednesday, November 20th. StockNews.com initiated coverage on shares of PEDEVCO in a research report on Thursday. They issued a “sell” rating on the stock.

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.