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

StockNews.com assumed coverage on shares of PEDEVCO (NYSE:PED) in a research note published on Wednesday morning. The brokerage issued a sell rating on the stock.

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

PEDEVCO Trading Up 1.4 %

Shares of NYSE:PED opened at $0.75 on Wednesday. The stock’s 50-day moving average price is $0.78 and its 200-day moving average price is $0.84. PEDEVCO has a 12-month low of $0.69 and a 12-month high of $1.10. The stock has a market capitalization of $67.12 million, a P/E ratio of 37.52 and a beta of 0.35.

Insider Buying and Selling at PEDEVCO

In other news, VP Moore Clark sold 125,000 shares of PEDEVCO stock in a transaction that occurred on 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 directly owns 1,080,334 shares in the company, valued at approximately $821,053.84. This trade represents a 10.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Paul Anthony Pinkston sold 65,000 shares of PEDEVCO stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $0.76, for a total transaction of $49,400.00. Following the transaction, the chief accounting officer now owns 816,700 shares of the company’s stock, valued at $620,692. The trade was a 7.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 476,334 shares of company stock valued at $374,217. 70.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PEDEVCO

Large investors have recently made changes to their positions in the business. Citadel Advisors LLC raised its holdings in PEDEVCO by 232.5% in the 4th 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 last quarter. Renaissance Technologies LLC raised its holdings in PEDEVCO by 19.7% in the 4th quarter. Renaissance Technologies LLC now owns 292,736 shares of the company’s stock worth $228,000 after acquiring an additional 48,132 shares during the last quarter. Finally, Virtu Financial LLC raised its holdings in PEDEVCO by 129.9% in the 4th quarter. Virtu Financial LLC now owns 38,045 shares of the company’s stock worth $30,000 after acquiring an additional 21,499 shares during the last quarter. 3.26% of the stock is currently owned by hedge funds and other 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.