StockNews.com Initiates Coverage on PEDEVCO (NYSE:PED)

StockNews.com started coverage on shares of PEDEVCO (NYSE:PED) in a report released on Tuesday. The brokerage issued a sell rating on the stock.

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

PEDEVCO Price Performance

PEDEVCO stock opened at $0.95 on Tuesday. PEDEVCO has a 1-year low of $0.61 and a 1-year high of $1.13. The firm has a market capitalization of $85.16 million, a P/E ratio of 98.00 and a beta of 0.55. The company’s 50-day moving average is $0.94 and its 200 day moving average is $0.85.

PEDEVCO (NYSE:PED) last posted its quarterly earnings data on Wednesday, May 15th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. PEDEVCO had a net margin of 3.99% and a return on equity of 1.31%. The company had revenue of $8.12 million for the quarter, compared to analyst estimates of $6.47 million. Research analysts anticipate that PEDEVCO will post 0.05 earnings per share for the current fiscal year.

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.