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

D. Boral Capital restated their buy rating on shares of PEDEVCO (NYSE:PED) in a research note released on Thursday,Benzinga reports. D. Boral Capital currently has a $1.50 target price on the stock.

Separately, StockNews.com started coverage on shares of PEDEVCO in a research note on Tuesday. They issued a “sell” rating on the stock.

PEDEVCO Stock Down 0.4 %

Shares of PEDEVCO stock opened at $0.71 on Thursday. The stock’s fifty day moving average is $0.79 and its two-hundred day moving average is $0.85. PEDEVCO has a 52 week low of $0.69 and a 52 week high of $1.10. The company has a market capitalization of $63.27 million, a PE ratio of 35.37 and a beta of 0.35.

Insiders Place Their Bets

In other PEDEVCO news, 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 transaction of $43,000.00. Following the transaction, the vice president now directly owns 855,334 shares in the company, valued at $735,587.24. This represents a 5.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Paul Anthony Pinkston sold 35,000 shares of the business’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 owns 714,700 shares of the company’s stock, valued at approximately $528,878. This represents a 4.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 476,334 shares of company stock worth $374,217 in the last ninety days. 70.60% of the stock is owned by company insiders.

Institutional Trading of PEDEVCO

A number of hedge funds have recently bought and sold shares of PED. Virtu Financial LLC raised its position in shares of PEDEVCO by 129.9% in the 4th quarter. Virtu Financial LLC now owns 38,045 shares of the company’s stock worth $30,000 after acquiring an additional 21,499 shares in the last quarter. Renaissance Technologies LLC grew its stake in 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 last quarter. Finally, Citadel Advisors LLC raised its holdings 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 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.