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

Stock analysts at StockNews.com began coverage on shares of PEDEVCO (NYSE:PED) in a research note issued on Monday. The firm set a “sell” rating on the stock.

Separately, D. Boral Capital decreased their price target on PEDEVCO from $2.25 to $1.50 and set a “buy” rating for the company in a research report on Wednesday, November 20th.

PEDEVCO Trading Up 5.1 %

Shares of NYSE:PED opened at $0.85 on Monday. The stock’s fifty day simple moving average is $0.83 and its two-hundred day simple moving average is $0.90. The stock has a market cap of $75.71 million, a PE ratio of 42.32 and a beta of 0.52. PEDEVCO has a 1-year low of $0.61 and a 1-year high of $1.10.

Insider Transactions at PEDEVCO

In related news, CAO Paul Anthony Pinkston sold 35,000 shares of the firm’s stock in a transaction dated Friday, December 27th. The stock was 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 approximately $528,878. This trade represents a 4.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 70.60% of the company’s stock.

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.