PEDEVCO (NYSE:PED) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of PEDEVCO (NYSE:PED) in a research report released on Monday. The firm issued a sell rating on the stock.

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

PEDEVCO Price Performance

Shares of NYSE PED opened at $0.72 on Monday. The stock has a market capitalization of $64.43 million, a P/E ratio of 36.01 and a beta of 0.35. PEDEVCO has a 1-year low of $0.68 and a 1-year high of $1.10. The business has a fifty day moving average price of $0.80 and a 200 day moving average price of $0.86.

Insider Buying and Selling at PEDEVCO

In other PEDEVCO news, CAO Paul Anthony Pinkston sold 65,000 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $0.76, for a total value of $49,400.00. Following the completion of the sale, the chief accounting officer now directly owns 816,700 shares in the company, valued at approximately $620,692. This trade represents a 7.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Moore Clark sold 50,000 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $0.86, for a total value of $43,000.00. Following the completion of the sale, the vice president now owns 855,334 shares of the company’s stock, valued at approximately $735,587.24. This trade represents a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 476,334 shares of company stock worth $374,217. 70.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Virtu Financial LLC increased its holdings 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 purchasing an additional 21,499 shares during the period. Citadel Advisors LLC increased its holdings 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 purchasing an additional 130,349 shares during the period. Finally, Renaissance Technologies LLC increased its holdings 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 purchasing an additional 48,132 shares during the period. 3.26% of the stock is owned by institutional investors and hedge funds.

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.