Pedevco (NYSEAMERICAN:PED) Lowered to “Strong Sell” Rating by Zacks Research

Pedevco (NYSEAMERICAN:PED) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

Pedevco Stock Down 1.6%

Shares of NYSEAMERICAN:PED opened at $13.20 on Monday. The firm has a market capitalization of $175.56 million, a P/E ratio of 440.15 and a beta of 0.20. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.67 and a current ratio of 0.68. The stock has a 50 day moving average price of $15.10 and a 200-day moving average price of $13.21. Pedevco has a 52-week low of $8.64 and a 52-week high of $18.89.

Pedevco (NYSEAMERICAN:PED) last released its quarterly earnings results on Thursday, May 14th. The company reported ($3.28) earnings per share for the quarter, missing the consensus estimate of $0.62 by ($3.90). The firm had revenue of $40.22 million for the quarter, compared to the consensus estimate of $37.65 million. Pedevco had a negative net margin of 46.78% and a negative return on equity of 3.20%. As a group, equities research analysts anticipate that Pedevco will post 1.58 EPS for the current fiscal year.

Insider Buying and Selling at Pedevco

In other Pedevco news, Director Martyn Willsher purchased 13,428 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average cost of $14.29 per share, for a total transaction of $191,886.12. Following the purchase, the director directly owned 25,727 shares in the company, valued at $367,638.83. The trade was a 109.18% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 70.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pedevco

An institutional investor recently bought a new position in Pedevco stock. Juniper Capital Advisors L.P. bought a new stake in shares of Pedevco Corp. (NYSEAMERICAN:PED) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 196,359 shares of the company’s stock, valued at approximately $110,000. Pedevco makes up about 0.0% of Juniper Capital Advisors L.P.’s investment portfolio, making the stock its 2nd largest position. Juniper Capital Advisors L.P. owned 0.21% of Pedevco as of its most recent SEC filing. 3.26% of the stock is owned by institutional investors and hedge funds.

About Pedevco

Pedevco Corp is an independent oil and gas exploration and production company incorporated in Delaware and listed on the NYSE American under the ticker symbol PED. The firm focuses on acquiring, developing and producing hydrocarbon assets, with a strategic emphasis on shallow water and onshore properties in Trinidad and Tobago. Since its listing, Pedevco has pursued opportunities to expand reserves through targeted exploration and development projects in one of the Caribbean’s most prolific hydrocarbon-producing regions.

The company’s portfolio centers on two primary concession areas in Trinidad and Tobago: the O-55 shallow water offshore block and the onshore Block 3(a) license.