PEDEVCO (NYSE:PED) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of PEDEVCO (NYSE:PED) in a research report sent to investors on Wednesday. The firm issued a sell rating on the stock.

Separately, D. Boral Capital restated a “buy” rating and issued a $1.50 price target on shares of PEDEVCO in a report on Thursday, March 13th.

PEDEVCO Trading Up 1.4 %

NYSE PED opened at $0.75 on Wednesday. The stock has a 50-day simple moving average of $0.78 and a 200 day simple moving average of $0.84. The company has a market capitalization of $67.12 million, a PE ratio of 37.52 and a beta of 0.35. PEDEVCO has a 12 month low of $0.69 and a 12 month high of $1.10.

Insider Transactions at PEDEVCO

In other PEDEVCO news, VP Moore Clark sold 125,000 shares of PEDEVCO stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $0.76, for a total transaction of $95,000.00. Following the transaction, the vice president now directly owns 1,080,334 shares of the company’s stock, valued at approximately $821,053.84. The trade was a 10.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Paul Anthony Pinkston sold 35,000 shares of PEDEVCO stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $0.74, for a total value of $25,900.00. Following the transaction, the chief accounting officer now directly owns 714,700 shares in the company, valued at $528,878. The trade was a 4.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 476,334 shares of company stock worth $374,217. Company insiders own 70.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Citadel Advisors LLC grew its holdings 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 acquiring an additional 130,349 shares in the last quarter. Renaissance Technologies LLC raised 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 worth $228,000 after buying an additional 48,132 shares in the last quarter. Finally, Virtu Financial LLC raised its position in 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 purchasing an additional 21,499 shares in the last quarter. 3.26% of the stock is owned by institutional investors.

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.