PEDEVCO (NYSE:PED) Research Coverage Started at StockNews.com

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

Separately, D. Boral Capital cut their price objective on shares of PEDEVCO from $2.25 to $1.50 and set a “buy” rating on the stock in a report on Wednesday, November 20th.

PEDEVCO Stock Performance

PEDEVCO stock opened at $0.85 on Wednesday. The company has a market cap of $76.08 million, a PE ratio of 42.52 and a beta of 0.52. PEDEVCO has a 1 year low of $0.61 and a 1 year high of $1.10. The company’s 50-day moving average is $0.82 and its two-hundred day moving average is $0.90.

Insider Transactions at PEDEVCO

In other news, CAO Paul Anthony Pinkston sold 35,000 shares of PEDEVCO stock in a transaction on Friday, December 27th. The shares were sold at an average price of $0.74, for a total transaction of $25,900.00. Following the transaction, the chief accounting officer now directly owns 714,700 shares of the company’s stock, valued at $528,878. This trade represents a 4.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 70.60% of the company’s stock.

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.