PEDEVCO (NYSE:PED) Given “Buy” Rating at D. Boral Capital

PEDEVCO (NYSE:PED)‘s stock had its “buy” rating reiterated by D. Boral Capital in a research note issued on Thursday,Benzinga reports. They currently have a $1.50 price objective on the stock. D. Boral Capital’s price objective suggests a potential upside of 104.92% from the company’s current price.

Separately, StockNews.com began coverage on PEDEVCO in a report on Tuesday. They set a “sell” rating for the company.

PEDEVCO Trading Up 3.8 %

PED opened at $0.73 on Thursday. PEDEVCO has a 12-month low of $0.69 and a 12-month high of $1.10. The stock has a fifty day simple moving average of $0.79 and a two-hundred day simple moving average of $0.85. The company has a market cap of $65.51 million, a price-to-earnings ratio of 36.62 and a beta of 0.35.

Insider Buying and Selling

In related news, CAO Paul Anthony Pinkston sold 35,000 shares of PEDEVCO stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $0.74, for a total value of $25,900.00. Following the completion of the sale, the chief accounting officer now directly owns 714,700 shares in the company, valued at approximately $528,878. This trade represents a 4.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Moore Clark sold 125,000 shares of PEDEVCO stock in a transaction dated 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 476,334 shares of company stock worth $374,217. 70.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PED. Virtu Financial LLC boosted its position in PEDEVCO by 129.9% in the fourth quarter. Virtu Financial LLC now owns 38,045 shares of the company’s stock worth $30,000 after purchasing an additional 21,499 shares during the last quarter. Renaissance Technologies LLC boosted its position in PEDEVCO by 19.7% in the fourth quarter. Renaissance Technologies LLC now owns 292,736 shares of the company’s stock worth $228,000 after purchasing an additional 48,132 shares during the last quarter. Finally, Citadel Advisors LLC boosted its position in PEDEVCO by 232.5% in the fourth quarter. Citadel Advisors LLC now owns 186,415 shares of the company’s stock worth $145,000 after purchasing an additional 130,349 shares during the last quarter. 3.26% of the stock is owned by hedge funds and other institutional investors.

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.