PEDEVCO (NYSE:PED) Shares to Reverse Split on Friday, March 13th

PEDEVCO Corp. (NYSE:PED) shares are scheduled to reverse split on Friday, March 13th. The 1-20 reverse split was announced on Tuesday, March 3rd. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, March 12th.

PEDEVCO Stock Down 15.0%

NYSE:PED opened at $0.59 on Thursday. PEDEVCO has a 52-week low of $0.43 and a 52-week high of $0.82. The stock has a fifty day simple moving average of $0.59 and a 200-day simple moving average of $0.58. The company has a market capitalization of $56.17 million, a PE ratio of 29.41 and a beta of 0.35.

Analyst Upgrades and Downgrades

PED has been the topic of several research reports. Roth Mkm upgraded shares of PEDEVCO to a “strong-buy” rating in a research report on Monday, November 17th. Zacks Research raised PEDEVCO to a “hold” rating in a research note on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $1.50.

Hedge Funds Weigh In On PEDEVCO

An institutional investor recently bought a new position in PEDEVCO stock. Juniper Capital Advisors L.P. acquired a new stake in shares of PEDEVCO Corp. (NYSE:PED) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 196,359 shares of the company’s stock, valued at approximately $110,000. PEDEVCO makes up 0.0% of Juniper Capital Advisors L.P.’s investment portfolio, making the stock its 2nd largest position. Juniper Capital Advisors L.P. owned approximately 0.21% of PEDEVCO at the end of the most recent quarter. Institutional investors own 3.26% of the company’s stock.

About PEDEVCO

Pedevco Corp is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties. The company focuses on leveraging a low-cost development model to unlock value from its onshore assets, applying reservoir characterization, well optimization and cost-effective completion techniques. Pedevco’s operational strategy emphasizes efficient use of existing infrastructure and disciplined capital allocation to maximize production and reserves recovery.

The company’s asset portfolio is concentrated in onshore U.S.