PEDEVCO (NYSE:PED) Now Covered by StockNews.com

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

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

PEDEVCO Trading Up 1.3 %

NYSE PED opened at $0.93 on Monday. The company has a 50-day moving average price of $0.92 and a two-hundred day moving average price of $0.90. PEDEVCO has a 52 week low of $0.61 and a 52 week high of $1.10. The stock has a market cap of $83.17 million, a price-to-earnings ratio of 93.24 and a beta of 0.58.

PEDEVCO (NYSE:PED) last posted its earnings results on Wednesday, August 14th. The company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. PEDEVCO had a return on equity of 0.38% and a net margin of 1.12%. The firm had revenue of $11.81 million for the quarter, compared to analysts’ expectations of $9.05 million. As a group, equities research analysts expect that PEDEVCO will post 0.08 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.