PEDEVCO’s (PED) Buy Rating Reaffirmed at D. Boral Capital

PEDEVCO (NYSE:PED)‘s stock had its “buy” rating reaffirmed by analysts at D. Boral Capital in a report released on Tuesday,Benzinga reports. They currently have a $1.50 price target on the stock. D. Boral Capital’s target price points to a potential upside of 140.04% from the stock’s current price.

Separately, StockNews.com began coverage on PEDEVCO in a research report on Wednesday, May 14th. They set a “sell” rating on the stock.

PEDEVCO Stock Down 0.2%

Shares of PEDEVCO stock opened at $0.62 on Tuesday. The company has a 50-day simple moving average of $0.61 and a two-hundred day simple moving average of $0.74. PEDEVCO has a twelve month low of $0.47 and a twelve month high of $1.10. The stock has a market capitalization of $57.08 million, a price-to-earnings ratio of 31.26 and a beta of 0.30.

Institutional Investors Weigh In On PEDEVCO

Large investors have recently bought and sold shares of the company. Renaissance Technologies LLC boosted 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 buying an additional 48,132 shares in the last quarter. Citadel Advisors LLC lifted 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 worth $145,000 after acquiring an additional 130,349 shares during the last quarter. Finally, Virtu Financial LLC lifted 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 worth $30,000 after acquiring an additional 21,499 shares during the last quarter. 3.26% of the stock is currently 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.