Pedevco (NYSEAMERICAN:PED) Stock Price Passes Below 200-Day Moving Average – What’s Next?

Shares of Pedevco Corp. (NYSEAMERICAN:PED) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $13.55 and traded as low as $11.86. Pedevco shares last traded at $12.21, with a volume of 43,645 shares changing hands.

Wall Street Analysts Forecast Growth

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

Pedevco Stock Performance

The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 0.54. The company has a market cap of $162.39 million, a P/E ratio of 407.14 and a beta of 0.18. The company has a 50 day moving average price of $13.59 and a 200-day moving average price of $13.55.

Pedevco (NYSEAMERICAN:PED) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($3.28) earnings per share for the quarter, missing the consensus estimate of $0.62 by ($3.90). The business had revenue of $40.22 million for the quarter, compared to the consensus estimate of $37.65 million. Pedevco had a negative return on equity of 3.20% and a negative net margin of 46.78%. On average, equities analysts expect that Pedevco Corp. will post 1.58 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Martyn Willsher bought 13,428 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average price of $14.29 per share, with a total value of $191,886.12. Following the completion of the acquisition, the director owned 25,727 shares of the company’s stock, valued at $367,638.83. The trade was a 109.18% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Moore Clark sold 18,797 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $14.67, for a total transaction of $275,751.99. Following the completion of the sale, the vice president owned 54,428 shares in the company, valued at approximately $798,458.76. The trade was a 25.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 70.40% of the stock is currently owned by insiders.

Institutional Trading of Pedevco

An institutional investor recently bought a new position in Pedevco stock. Juniper Capital Advisors L.P. purchased a new position in shares of Pedevco Corp. (NYSEAMERICAN:PED) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 196,359 shares of the company’s stock, valued at approximately $110,000. Pedevco makes up 0.0% of Juniper Capital Advisors L.P.’s holdings, making the stock its 2nd largest holding. Juniper Capital Advisors L.P. owned about 0.21% of Pedevco as of its most recent SEC filing. 3.26% of the stock is owned by hedge funds and other institutional investors.

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.