Pedevco (NYSEAMERICAN:PED) Announces Quarterly Earnings Results

Pedevco (NYSEAMERICAN:PED) announced its quarterly earnings results on Thursday. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $0.36 by $0.95, FiscalAI reports. The firm had revenue of $46.11 million during the quarter, compared to the consensus estimate of $38.00 million. Pedevco had a negative net margin of 46.78% and a negative return on equity of 3.20%.

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

• Revenue and adjusted EBITDA increased substantially: Second-quarter revenue reached $46.1 million, up 561% year over year, while adjusted EBITDA rose to $18.7 million from $3 million, driven primarily by the larger post-Juniper asset base and higher realized oil prices.
• Debt repayment strengthened the balance sheet: PEDEVCO repaid $13 million on its revolving credit facility, reducing borrowings to $85 million and net funded debt to approximately $73 million, with $40 million of facility availability remaining.
• Management plans to accelerate development: Following additional asset analysis and the resolution of Wyoming BLM litigation, the company expects to drill and participate in more than 20 gross wells across its basins over the coming months, funded within cash flow.
• Production declined sequentially: Second-quarter output fell 16% from the first quarter to 6,800 BOE per day as late-2025 D-J Basin wells followed their natural decline curves; July production was also temporarily pressured by well shut-ins and optimization work.
• Full-year guidance was maintained: PEDEVCO reiterated 2026 adjusted EBITDA guidance of $60 million to $70 million, while noting that the expanded development program is not expected to materially contribute until late 2026 and early 2027.

Pedevco Price Performance

Pedevco stock traded up $0.80 during mid-day trading on Thursday, hitting $12.05. 21,812 shares of the company traded hands, compared to its average volume of 34,776. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.67 and a current ratio of 0.68. Pedevco has a one year low of $8.64 and a one year high of $18.89. The stock has a market cap of $160.14 million, a price-to-earnings ratio of 401.80 and a beta of 0.23. The stock has a fifty day moving average price of $12.12 and a 200-day moving average price of $13.60.

Insider Buying and Selling at Pedevco

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

Wall Street Analyst Weigh In

Separately, Zacks Research raised 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 issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy”.

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.