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

Equities research analysts at StockNews.com began coverage on shares of PEDEVCO (NYSE:PED) in a research note issued on Tuesday. The brokerage set a “sell” rating on the stock.

Separately, Alliance Global Partners initiated coverage on shares of PEDEVCO in a report on Wednesday, July 17th. They issued a “buy” rating and a $1.75 target price for the company.

PEDEVCO Trading Down 1.4 %

NYSE PED opened at $0.91 on Tuesday. PEDEVCO has a 1 year low of $0.61 and a 1 year high of $1.10. The firm has a market capitalization of $81.25 million, a price-to-earnings ratio of 91.09 and a beta of 0.58. The firm’s 50 day simple moving average is $0.92 and its 200 day simple moving average is $0.91.

PEDEVCO (NYSE:PED) last issued its quarterly earnings results on Wednesday, August 14th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. PEDEVCO had a return on equity of 0.38% and a net margin of 1.12%. The company had revenue of $11.81 million for the quarter, compared to analyst estimates of $9.05 million. On average, equities research analysts forecast that PEDEVCO will post 0.08 earnings per share for the current year.

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.