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

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

Separately, D. Boral Capital dropped their target price on PEDEVCO from $2.25 to $1.50 and set a “buy” rating on the stock in a report on Wednesday, November 20th.

PEDEVCO Stock Up 2.6 %

PEDEVCO stock opened at $0.72 on Monday. The firm has a market cap of $64.43 million, a price-to-earnings ratio of 36.01 and a beta of 0.35. PEDEVCO has a 52 week low of $0.68 and a 52 week high of $1.10. The business’s 50-day moving average price is $0.80 and its 200 day moving average price is $0.86.

Insider Buying and Selling at PEDEVCO

In other PEDEVCO news, VP Moore Clark sold 125,000 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $0.76, for a total value of $95,000.00. Following the sale, the vice president now directly owns 1,080,334 shares of the company’s stock, valued at approximately $821,053.84. This trade represents a 10.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Paul Anthony Pinkston sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The shares were 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. The trade was a 4.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 476,334 shares of company stock valued at $374,217. Company insiders own 70.60% of the company’s stock.

Hedge Funds Weigh In On PEDEVCO

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Citadel Advisors LLC lifted its position in shares of PEDEVCO by 232.5% in 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 in the last quarter. Renaissance Technologies LLC lifted its position in shares of PEDEVCO by 19.7% in 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 in the last quarter. Finally, Virtu Financial LLC lifted its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 3.26% of the company’s stock.

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.