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

StockNews.com started coverage on shares of PEDEVCO (NYSE:PED) in a research report issued on Saturday. The brokerage set a “sell” rating on the stock.

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

PEDEVCO Stock Down 1.7 %

Shares of PED stock opened at $0.75 on Friday. The stock’s 50-day moving average price is $0.80 and its 200 day moving average price is $0.87. The stock has a market capitalization of $67.30 million, a PE ratio of 37.62 and a beta of 0.52. PEDEVCO has a 52-week low of $0.65 and a 52-week high of $1.10.

Insider Transactions at PEDEVCO

In related news, CAO Paul Anthony Pinkston sold 35,000 shares of PEDEVCO stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $0.74, for a total value of $25,900.00. Following the sale, the chief accounting officer now directly owns 714,700 shares in the company, valued at $528,878. The trade was a 4.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Moore Clark sold 125,000 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $0.76, for a total value of $95,000.00. Following the completion of the transaction, the vice president now owns 1,080,334 shares of the company’s stock, valued at $821,053.84. The trade was a 10.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 476,334 shares of company stock worth $374,217 over the last ninety days. 70.60% of the stock is currently owned by company insiders.

Institutional Trading of PEDEVCO

A hedge fund recently raised its stake in PEDEVCO stock. Virtu Financial LLC raised its stake in PEDEVCO Corp. (NYSE:PED) by 129.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,045 shares of the company’s stock after buying an additional 21,499 shares during the period. Virtu Financial LLC’s holdings in PEDEVCO were worth $30,000 at the end of the most recent reporting period. 3.26% of the stock is owned by institutional investors and hedge funds.

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.