PEDEVCO (NYSE:PED) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of PEDEVCO (NYSE:PED) in a report published on Saturday morning. 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 research report on Wednesday, November 20th.

PEDEVCO Trading Down 1.7 %

PED opened at $0.75 on Friday. The stock has a market capitalization of $67.30 million, a P/E ratio of 37.62 and a beta of 0.52. PEDEVCO has a 12 month low of $0.65 and a 12 month high of $1.10. The firm’s fifty day simple moving average is $0.80 and its 200 day simple moving average is $0.87.

Insider Activity

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC grew its stake in PEDEVCO by 19.7% in the 4th 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 during the last quarter. Citadel Advisors LLC grew its stake in PEDEVCO by 232.5% in the 4th quarter. Citadel Advisors LLC now owns 186,415 shares of the company’s stock valued at $145,000 after buying an additional 130,349 shares during the last quarter. Finally, Virtu Financial LLC grew its stake in PEDEVCO by 129.9% in the 4th quarter. Virtu Financial LLC now owns 38,045 shares of the company’s stock valued at $30,000 after buying an additional 21,499 shares during the last quarter. 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.