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

Analysts at StockNews.com assumed coverage on shares of PEDEVCO (NYSE:PED) in a research note issued to investors on Wednesday. The brokerage set a “sell” rating on the stock.

Separately, Alliance Global Partners initiated coverage on PEDEVCO in a report on Wednesday, July 17th. They issued a “buy” rating and a $1.75 target price for the company.

PEDEVCO Price Performance

Shares of PEDEVCO stock opened at $1.00 on Wednesday. PEDEVCO has a 52-week low of $0.61 and a 52-week high of $1.10. The firm has a market capitalization of $89.36 million, a PE ratio of 100.00 and a beta of 0.58. The company’s fifty day moving average price is $0.91 and its two-hundred day moving average price is $0.91.

PEDEVCO (NYSE:PED) last posted its earnings results on Wednesday, August 14th. The company reported $0.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.03. The business had revenue of $11.81 million for the quarter, compared to analysts’ expectations of $9.05 million. PEDEVCO had a net margin of 1.12% and a return on equity of 0.38%. Analysts predict that PEDEVCO will post 0.08 earnings per share for the current fiscal year.

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.