Roth Capital Has Bullish Outlook for PEDEVCO FY2024 Earnings

PEDEVCO Corp. (NYSE:PED) – Roth Capital lifted their FY2024 earnings estimates for PEDEVCO in a research note issued on Tuesday, March 4th. Roth Capital analyst J. White now expects that the company will earn $0.08 per share for the year, up from their previous forecast of $0.06. The consensus estimate for PEDEVCO’s current full-year earnings is $0.06 per share. Roth Capital also issued estimates for PEDEVCO’s Q3 2025 earnings at $0.01 EPS and FY2025 earnings at $0.05 EPS.

PED has been the subject of a number of other research reports. D. Boral Capital dropped their target price on shares of 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 Monday. They set a “sell” rating for the company.

PEDEVCO Trading Up 2.6 %

Shares of NYSE:PED opened at $0.72 on Thursday. The stock has a market capitalization of $64.43 million, a PE ratio of 36.01 and a beta of 0.35. The firm has a 50 day moving average of $0.80 and a 200-day moving average of $0.86. PEDEVCO has a 12 month low of $0.68 and a 12 month high of $1.10.

Insider Buying and Selling at PEDEVCO

In other news, VP Moore Clark sold 50,000 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $0.86, for a total transaction of $43,000.00. Following the transaction, the vice president now owns 855,334 shares in the company, valued at approximately $735,587.24. This represents a 5.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John Douglas Schick sold 120,000 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $0.76, for a total transaction of $91,200.00. Following the transaction, the chief executive officer now directly owns 1,577,133 shares in the company, valued at $1,198,621.08. This trade represents a 7.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 476,334 shares of company stock valued at $374,217. 70.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PEDEVCO

Several hedge funds and other institutional investors have recently modified their holdings of PED. Virtu Financial LLC grew its holdings in shares of PEDEVCO by 129.9% during the fourth quarter. Virtu Financial LLC now owns 38,045 shares of the company’s stock valued at $30,000 after buying an additional 21,499 shares during the last quarter. Citadel Advisors LLC lifted its position in PEDEVCO by 232.5% in the 4th quarter. Citadel Advisors LLC now owns 186,415 shares of the company’s stock valued at $145,000 after acquiring an additional 130,349 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in PEDEVCO by 19.7% in the 4th quarter. Renaissance Technologies LLC now owns 292,736 shares of the company’s stock valued at $228,000 after acquiring an additional 48,132 shares in the last quarter. Institutional investors own 3.26% of the company’s 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.