Roth Capital Forecasts PEDEVCO’s FY2024 Earnings (NYSE:PED)

PEDEVCO Corp. (NYSE:PED) – Roth Capital boosted their FY2024 earnings per share (EPS) estimates for PEDEVCO in a report released on Tuesday, March 4th. Roth Capital analyst J. White now anticipates that the company will earn $0.08 per share for the year, up from their previous forecast of $0.06. The consensus estimate for PEDEVCO’s current full-year earnings is $0.06 per share. Roth Capital also issued estimates for PEDEVCO’s Q3 2025 earnings at $0.01 EPS and FY2025 earnings at $0.05 EPS.

PED has been the subject of several other reports. StockNews.com initiated coverage on PEDEVCO in a report on Monday. They issued a “sell” rating for the company. D. Boral Capital lowered their price target on PEDEVCO from $2.25 to $1.50 and set a “buy” rating for the company in a report on Wednesday, November 20th.

PEDEVCO Price Performance

Shares of PEDEVCO stock opened at $0.71 on Thursday. PEDEVCO has a 1 year low of $0.68 and a 1 year high of $1.10. The business has a 50-day moving average of $0.80 and a two-hundred day moving average of $0.86. The company has a market capitalization of $63.09 million, a P/E ratio of 35.27 and a beta of 0.35.

Insider Transactions at PEDEVCO

In other news, CAO Paul Anthony Pinkston sold 35,000 shares of the company’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $0.74, for a total transaction of $25,900.00. Following the completion of the transaction, the chief accounting officer now directly owns 714,700 shares of the company’s stock, valued at $528,878. This represents 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 at this hyperlink. Also, VP Moore Clark sold 50,000 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $0.86, for a total value of $43,000.00. Following the transaction, the vice president now directly owns 855,334 shares of the company’s stock, valued at $735,587.24. This represents a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 476,334 shares of company stock valued at $374,217 over the last three months. Company insiders own 70.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Virtu Financial LLC boosted its position in shares of PEDEVCO by 129.9% during the fourth quarter. Virtu Financial LLC now owns 38,045 shares of the company’s stock worth $30,000 after buying an additional 21,499 shares during the period. Citadel Advisors LLC boosted its position in PEDEVCO by 232.5% during the fourth quarter. Citadel Advisors LLC now owns 186,415 shares of the company’s stock valued at $145,000 after purchasing an additional 130,349 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in 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 last quarter. 3.26% of the stock is 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.