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

StockNews.com began coverage on shares of PEDEVCO (NYSE:PED) in a report issued on Thursday 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 target for the company.

PEDEVCO Stock Performance

Shares of PED stock opened at $0.92 on Thursday. PEDEVCO has a 52 week low of $0.61 and a 52 week high of $1.13. The stock has a market capitalization of $82.21 million, a PE ratio of 92.00 and a beta of 0.55. The stock’s fifty day moving average is $0.94 and its 200-day moving average is $0.87.

PEDEVCO (NYSE:PED) last issued its quarterly 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. The business had revenue of $11.81 million for the quarter, compared to the consensus estimate of $9.05 million. PEDEVCO had a net margin of 1.12% and a return on equity of 0.38%. As a group, analysts forecast that PEDEVCO will post 0.06 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.