PEDEVCO (NYSE:PED) Earns Sell Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of PEDEVCO (NYSE:PED) in a report released on Sunday. The brokerage issued a sell rating on the stock.

Separately, D. Boral Capital cut their price target on shares of PEDEVCO from $2.25 to $1.50 and set a “buy” rating on the stock in a report on Wednesday, November 20th.

PEDEVCO Stock Performance

PED stock opened at $0.74 on Friday. The firm has a 50-day simple moving average of $0.80 and a two-hundred day simple moving average of $0.86. PEDEVCO has a one year low of $0.65 and a one year high of $1.10. The firm has a market cap of $65.96 million, a price-to-earnings ratio of 36.87 and a beta of 0.52.

Insiders Place Their Bets

In other news, CEO John Douglas Schick sold 58,334 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $0.86, for a total value of $50,167.24. Following the completion of the transaction, the chief executive officer now directly owns 1,197,133 shares in the company, valued at $1,029,534.38. This trade represents a 4.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Paul Anthony Pinkston sold 65,000 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $0.76, for a total value of $49,400.00. Following the completion of the sale, the chief accounting officer now owns 816,700 shares in the company, valued at approximately $620,692. This represents a 7.37 % decrease in their position. The disclosure for this sale can be found here. Over 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 corporate insiders.

Institutional Investors Weigh In On PEDEVCO

A number of hedge funds and other institutional investors have recently made changes to their positions in PED. Citadel Advisors LLC raised its position in shares of PEDEVCO by 232.5% in the fourth quarter. Citadel Advisors LLC now owns 186,415 shares of the company’s stock worth $145,000 after acquiring an additional 130,349 shares during the period. Renaissance Technologies LLC increased its position in shares of PEDEVCO by 19.7% in the fourth quarter. Renaissance Technologies LLC now owns 292,736 shares of the company’s stock valued at $228,000 after buying an additional 48,132 shares in the last quarter. Finally, Virtu Financial LLC raised its stake in shares of PEDEVCO by 129.9% during the 4th quarter. Virtu Financial LLC now owns 38,045 shares of the company’s stock worth $30,000 after buying an additional 21,499 shares during the period. Institutional investors and hedge funds 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.