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

StockNews.com initiated coverage on shares of PEDEVCO (NYSE:PED) in a research report released on Saturday. The firm issued a sell rating on the stock.

Separately, Alliance Global Partners assumed coverage on shares of PEDEVCO in a research report on Wednesday, July 17th. They set a “buy” rating and a $1.75 price objective on the stock.

PEDEVCO Stock Performance

NYSE:PED opened at $0.89 on Friday. The firm has a market cap of $79.84 million, a P/E ratio of 89.35 and a beta of 0.58. PEDEVCO has a fifty-two week low of $0.61 and a fifty-two week high of $1.10. The firm has a 50-day simple moving average of $0.93 and a two-hundred day simple moving average of $0.93.

PEDEVCO (NYSE:PED) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. The firm had revenue of $11.81 million for the quarter, compared to the consensus estimate of $9.05 million. PEDEVCO had a net margin of 1.12% and a return on equity of 0.38%. On average, equities research analysts predict that PEDEVCO will post 0.06 EPS 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.