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

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

PEDEVCO Trading Up 8.2 %

Shares of NYSE:PED opened at $0.90 on Thursday. The company has a 50 day moving average of $0.93 and a 200-day moving average of $0.82. The firm has a market cap of $80.29 million, a P/E ratio of 89.94 and a beta of 0.54. PEDEVCO has a twelve month low of $0.61 and a twelve month high of $1.13.

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