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

StockNews.com started coverage on shares of PEDEVCO (NYSE:PED) in a research note published on Monday. The brokerage issued a sell rating on the stock.

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

PEDEVCO Trading Down 5.1 %

NYSE PED opened at $0.72 on Monday. The company has a fifty day simple moving average of $0.80 and a 200 day simple moving average of $0.86. The company has a market cap of $64.53 million, a P/E ratio of 36.07 and a beta of 0.52. PEDEVCO has a 1 year low of $0.65 and a 1 year high of $1.10.

Insider Activity at PEDEVCO

In other news, 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 sale, the vice president now directly owns 855,334 shares in the company, valued at approximately $735,587.24. The trade was a 5.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Paul Anthony Pinkston sold 35,000 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $0.74, for a total transaction 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. The trade was a 4.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 476,334 shares of company stock worth $374,217 in the last ninety days. 70.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PEDEVCO

A number of hedge funds have recently modified their holdings of the stock. Virtu Financial LLC grew its position in PEDEVCO by 129.9% in the fourth quarter. Virtu Financial LLC now owns 38,045 shares of the company’s stock valued at $30,000 after acquiring an additional 21,499 shares during the period. Renaissance Technologies LLC lifted 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 acquiring an additional 48,132 shares during the period. Finally, Citadel Advisors LLC lifted its holdings in shares of 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 acquiring an additional 130,349 shares during the period. 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.