PEDEVCO (NYSE:PED) Now Covered by StockNews.com

StockNews.com started coverage on shares of PEDEVCO (NYSE:PED) in a research note released on Wednesday morning. The firm issued a sell rating on the stock.

Separately, D. Boral Capital reiterated a “buy” rating and issued a $1.50 target price on shares of PEDEVCO in a research note on Wednesday, April 2nd.

PEDEVCO Price Performance

PED stock opened at $0.64 on Wednesday. PEDEVCO has a 52-week low of $0.47 and a 52-week high of $1.10. The company has a 50-day moving average of $0.61 and a two-hundred day moving average of $0.75. The stock has a market capitalization of $58.43 million, a price-to-earnings ratio of 32.00 and a beta of 0.30.

Institutional Investors Weigh In On PEDEVCO

Several hedge funds have recently made changes to their positions in the stock. Citadel Advisors LLC lifted its stake in shares of PEDEVCO by 232.5% in the fourth quarter. Citadel Advisors LLC now owns 186,415 shares of the company’s stock valued at $145,000 after buying an additional 130,349 shares during the period. Renaissance Technologies LLC raised its position in PEDEVCO by 19.7% in the fourth quarter. Renaissance Technologies LLC now owns 292,736 shares of the company’s stock worth $228,000 after purchasing an additional 48,132 shares in the last quarter. Finally, Virtu Financial LLC raised its position in PEDEVCO by 129.9% in the fourth quarter. Virtu Financial LLC now owns 38,045 shares of the company’s stock worth $30,000 after purchasing an additional 21,499 shares in the last quarter. Institutional investors own 3.26% of the company’s stock.

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.