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

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

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

PEDEVCO Stock Performance

Shares of NYSE:PED opened at $0.98 on Friday. The firm has a market cap of $87.57 million, a price-to-earnings ratio of 98.00 and a beta of 0.58. The stock’s 50-day moving average price is $0.92 and its two-hundred day moving average price is $0.93. PEDEVCO has a 12-month low of $0.61 and a 12-month high of $1.10.

PEDEVCO (NYSE:PED) last released its earnings results on Wednesday, August 14th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. PEDEVCO had a net margin of 1.12% and a return on equity of 0.38%. The business had revenue of $11.81 million for the quarter, compared to analysts’ expectations of $9.05 million. As a group, research analysts forecast 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.