Pedevco (NYSEAMERICAN:PED) Shares Pass Below 200-Day Moving Average – Here’s What Happened

Pedevco Corp. (NYSEAMERICAN:PED)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $13.40 and traded as low as $11.43. Pedevco shares last traded at $11.90, with a volume of 24,592 shares changing hands.

Wall Street Analyst Weigh In

Separately, Zacks Research downgraded Pedevco from a “hold” rating to a “strong sell” rating in a research report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Pedevco has a consensus rating of “Moderate Buy”.

Pedevco Stock Performance

The firm has a 50 day moving average of $14.14 and a 200-day moving average of $13.41. The company has a market cap of $204.95 million, a P/E ratio of 513.84 and a beta of 0.20. The company has a quick ratio of 0.67, a current ratio of 0.68 and a debt-to-equity ratio of 0.54.

Pedevco (NYSEAMERICAN:PED) last issued its earnings results on Thursday, May 14th. The company reported ($3.28) earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($3.90). Pedevco had a negative net margin of 46.78% and a negative return on equity of 3.20%. The firm had revenue of $40.22 million for the quarter, compared to the consensus estimate of $37.65 million. As a group, sell-side analysts anticipate that Pedevco Corp. will post 1.58 EPS for the current fiscal year.

Insider Buying and Selling at Pedevco

In other Pedevco news, Director Martyn Willsher acquired 13,428 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average cost of $14.29 per share, with a total value of $191,886.12. Following the completion of the purchase, the director directly owned 25,727 shares in the company, valued at $367,638.83. The trade was a 109.18% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 70.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Pedevco

A hedge fund recently bought a new stake in Pedevco stock. Juniper Capital Advisors L.P. acquired a new stake in shares of Pedevco Corp. (NYSEAMERICAN:PED) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 196,359 shares of the company’s stock, valued at approximately $110,000. Pedevco makes up about 0.0% of Juniper Capital Advisors L.P.’s investment portfolio, making the stock its 2nd largest position. Juniper Capital Advisors L.P. owned 0.21% of Pedevco as of its most recent SEC filing. Institutional investors and hedge funds own 3.26% of the company’s stock.

Pedevco Company Profile

Pedevco Corp is an independent oil and gas exploration and production company incorporated in Delaware and listed on the NYSE American under the ticker symbol PED. The firm focuses on acquiring, developing and producing hydrocarbon assets, with a strategic emphasis on shallow water and onshore properties in Trinidad and Tobago. Since its listing, Pedevco has pursued opportunities to expand reserves through targeted exploration and development projects in one of the Caribbean’s most prolific hydrocarbon-producing regions.

The company’s portfolio centers on two primary concession areas in Trinidad and Tobago: the O-55 shallow water offshore block and the onshore Block 3(a) license.