PEDEVCO (NYSE:PED) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of PEDEVCO (NYSE:PED) in a research report issued on Tuesday. The brokerage set a “sell” rating on the stock.

Separately, Alliance Global Partners started coverage on PEDEVCO in a research report on Wednesday, July 17th. They set a “buy” rating and a $1.75 price target on the stock.

PEDEVCO Trading Down 3.0 %

Shares of PED stock opened at $0.97 on Tuesday. PEDEVCO has a 12 month low of $0.61 and a 12 month high of $1.13. The company has a market cap of $86.60 million, a P/E ratio of 100.00 and a beta of 0.54. The firm has a fifty day moving average price of $0.94 and a 200 day moving average price of $0.85.

PEDEVCO (NYSE:PED) last issued its earnings results on Wednesday, May 15th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $8.12 million for the quarter, compared to analyst estimates of $6.47 million. PEDEVCO had a return on equity of 1.31% and a net margin of 3.99%. On average, equities 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.