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

StockNews.com initiated coverage on shares of PEDEVCO (NYSE:PED) in a research note released on Monday. 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 set a buy rating and a $1.75 price objective on the stock.

PEDEVCO Stock Performance

Shares of PED opened at $1.01 on Monday. PEDEVCO has a fifty-two week low of $0.61 and a fifty-two week high of $1.13. The firm’s 50-day simple moving average is $0.94 and its two-hundred day simple moving average is $0.84. The stock has a market cap of $90.25 million, a PE ratio of 101.00 and a beta of 0.54.

PEDEVCO (NYSE:PED) last announced its quarterly earnings data on Wednesday, May 15th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. PEDEVCO had a return on equity of 1.31% and a net margin of 3.99%. The business had revenue of $8.12 million during the quarter, compared to analysts’ expectations of $6.47 million. Equities research analysts predict 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.