PEDEVCO (NYSE:PED) Given Buy Rating at D. Boral Capital

PEDEVCO (NYSE:PED)‘s stock had its “buy” rating reissued by equities researchers at D. Boral Capital in a research note issued to investors on Thursday,Benzinga reports. They currently have a $1.50 price objective on the stock. D. Boral Capital’s price target indicates a potential upside of 111.27% from the company’s current price.

Separately, StockNews.com initiated coverage on PEDEVCO in a research note on Tuesday. They set a “sell” rating for the company.

PEDEVCO Stock Up 0.1 %

PED stock opened at $0.71 on Thursday. The company’s 50-day moving average price is $0.79 and its two-hundred day moving average price is $0.85. The firm has a market cap of $63.54 million, a P/E ratio of 35.52 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 news, CEO John Douglas Schick sold 120,000 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $0.76, for a total transaction of $91,200.00. Following the completion of the transaction, the chief executive officer now directly owns 1,577,133 shares in the company, valued at approximately $1,198,621.08. This represents a 7.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Moore Clark sold 50,000 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $0.86, for a total value of $43,000.00. Following the completion of the transaction, the vice president now owns 855,334 shares of the company’s stock, valued at $735,587.24. The trade was a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 476,334 shares of company stock valued at $374,217. 70.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PEDEVCO

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC boosted its position in PEDEVCO by 129.9% during the 4th quarter. Virtu Financial LLC now owns 38,045 shares of the company’s stock worth $30,000 after buying an additional 21,499 shares during the period. Citadel Advisors LLC raised its stake in shares of PEDEVCO by 232.5% during 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 during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of PEDEVCO by 19.7% during the fourth quarter. Renaissance Technologies LLC now owns 292,736 shares of the company’s stock worth $228,000 after purchasing an additional 48,132 shares during the period. 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.