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

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

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

PEDEVCO Price Performance

PED stock opened at $0.76 on Friday. The firm has a market cap of $68.03 million, a price-to-earnings ratio of 38.02 and a beta of 0.52. PEDEVCO has a 1-year low of $0.65 and a 1-year high of $1.10. The firm has a fifty day moving average price of $0.80 and a two-hundred day moving average price of $0.87.

Insider Buying and Selling

In related news, CEO John Douglas Schick sold 58,334 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $0.86, for a total value of $50,167.24. Following the sale, the chief executive officer now owns 1,197,133 shares of the company’s stock, valued at $1,029,534.38. This trade represents a 4.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Moore Clark sold 50,000 shares of PEDEVCO stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $0.86, for a total transaction of $43,000.00. Following the completion of the sale, the vice president now owns 855,334 shares in the company, valued at approximately $735,587.24. This represents a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 476,334 shares of company stock valued at $374,217. Insiders own 70.60% of the company’s stock.

Hedge Funds Weigh In On PEDEVCO

Hedge funds and other institutional investors have recently made changes to their positions in the business. Citadel Advisors LLC raised its stake in PEDEVCO by 232.5% during the 4th quarter. Citadel Advisors LLC now owns 186,415 shares of the company’s stock valued at $145,000 after acquiring an additional 130,349 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of PEDEVCO by 19.7% during the fourth quarter. Renaissance Technologies LLC now owns 292,736 shares of the company’s stock valued at $228,000 after purchasing an additional 48,132 shares during the period. Finally, Virtu Financial LLC raised its stake in shares of PEDEVCO by 129.9% during the fourth quarter. Virtu Financial LLC now owns 38,045 shares of the company’s stock valued at $30,000 after purchasing an additional 21,499 shares in the last quarter. 3.26% of the stock is currently owned by institutional investors and hedge funds.

PEDEVCO Company Profile

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.