Pedevco (NYSEAMERICAN:PED) Announces Earnings Results, Misses Estimates By $0.88 EPS

Pedevco (NYSEAMERICAN:PED) posted its quarterly earnings data on Thursday. The company reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.88), FiscalAI reports. Pedevco had a negative net margin of 14.61% and a positive return on equity of 0.67%. The business had revenue of $35.54 million for the quarter, compared to analysts’ expectations of $31.05 million.

Here are the key takeaways from Pedevco’s conference call:

• Q3 results were mixed: Revenue was $35.5 million, up 411% year over year but down about 23% sequentially, while Adjusted EBITDA fell to $14.7 million from $18.7 million in Q2. PEDEVCO reported a $9.2 million net loss, including a $12 million non-cash unrealized derivative loss.
• Production declined 14% sequentially to 5,850 BOE per day, partly due to temporary shut-ins and rod conversions moved forward from Q4. Management expects Q4 production to be roughly flat on average versus Q3, with growth in the exit rate as wells return and new wells come online.
• PEDEVCO is positioning for Rocky Mountain growth: It added about 5,678 net acres in its Powder River Basin Mowry prospect for $5.9 million, nearly doubling its position there, and cited a program of roughly 15 gross wells spanning the Powder River and D-J basins into early 2027.
• The company is about halfway through its well-optimization program and continues to target more than $10 million in annualized LOE savings once the work is completed, which it expects in 2027.
• PEDEVCO reaffirmed 2026 production guidance of 6,500–7,000 BOE per day and Adjusted EBITDA guidance of $60 million–$70 million, while raising full-year net capital expenditure guidance to $37 million–$42 million. Management said it plans to reinvest cash flow aggressively, but detailed 2027 plans await completion of the CEO search.

Pedevco Trading Down 9.7%

PED traded down $1.27 during trading on Friday, hitting $11.78. 5,551 shares of the stock were exchanged, compared to its average volume of 31,722. The firm has a 50 day simple moving average of $14.19 and a 200 day simple moving average of $13.74. The firm has a market cap of $156.56 million, a price-to-earnings ratio of 392.80 and a beta of 0.32. Pedevco has a 1 year low of $8.64 and a 1 year high of $18.89. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.78 and a current ratio of 0.78.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised shares of Pedevco from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy”.

Insider Buying and Selling at Pedevco

In other news, VP Moore Clark sold 5,277 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $12.53, for a total transaction of $66,120.81. Following the transaction, the vice president owned 45,385 shares in the company, valued at approximately $568,674.05. This trade represents a 10.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Simon G. Kukes acquired 147,070 shares of the firm’s stock in a transaction that occurred on Thursday, October 8th. The stock was purchased at an average price of $13.00 per share, with a total value of $1,911,910.00. Following the completion of the acquisition, the insider directly owned 4,137,543 shares of the company’s stock, valued at $53,788,059. This represents a 3.69% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 10,260 shares of company stock valued at $129,417 over the last quarter. Company insiders own 54.90% of the company’s stock.

About Pedevco

PEDEVCO Corp. is an independent energy company focused on acquiring, developing and producing oil and natural gas resources in the United States. Its operations are concentrated in the Permian Basin, including areas of southeastern New Mexico and West Texas. The company’s activities include drilling and operating wells and managing oil and gas properties. Its production includes crude oil, natural gas and natural gas liquids. PEDEVCO is headquartered in Houston, Texas. Its chief executive officer is Simon Kukes.