Pedevco (NYSEAMERICAN:PED) Shares Cross Below 200 Day Moving Average – Here’s Why

Pedevco Corp. (NYSEAMERICAN:PED)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.59 and traded as low as $11.50. Pedevco shares last traded at $11.81, with a volume of 15,938 shares traded.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded shares of Pedevco from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. One equities research 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, the stock currently has a consensus rating of “Buy”.

Pedevco Stock Performance

The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $160.68 million, a price-to-earnings ratio of 403.13 and a beta of 0.18. The stock has a fifty day moving average price of $13.11 and a 200-day moving average price of $13.60.

Pedevco (NYSEAMERICAN:PED) last posted its earnings results on Thursday, May 14th. The company reported ($3.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($3.90). Pedevco had a negative net margin of 46.78% and a negative return on equity of 3.20%. The firm had revenue of $40.22 million during the quarter, compared to the consensus estimate of $37.65 million. As a group, analysts anticipate that Pedevco Corp. will post 0.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, VP Moore Clark sold 18,797 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $14.67, for a total value of $275,751.99. Following the completion of the sale, the vice president owned 54,428 shares in the company, valued at $798,458.76. This represents a 25.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Martyn Willsher purchased 13,428 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were acquired at an average cost of $14.29 per share, for a total transaction of $191,886.12. Following the transaction, the director owned 25,727 shares of the company’s stock, valued at $367,638.83. This trade represents a 109.18% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 54.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Pedevco stock. Juniper Capital Advisors L.P. bought a new position in shares of Pedevco Corp. (NYSEAMERICAN:PED) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 196,359 shares of the company’s stock, valued at approximately $110,000. Pedevco comprises approximately 0.0% of Juniper Capital Advisors L.P.’s holdings, making the stock its 2nd largest position. Juniper Capital Advisors L.P. owned 0.21% of Pedevco as of its most recent filing with the Securities & Exchange Commission. 3.26% of the stock is currently owned by institutional investors and hedge funds.

Pedevco Company Profile

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.