PEDEVCO (NYSE:PED) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of PEDEVCO (NYSE:PED) in a research note issued to investors on Sunday. The brokerage set a “sell” rating on the stock.

Separately, Alliance Global Partners began coverage on shares of PEDEVCO in a research report on Wednesday, July 17th. They issued a “buy” rating and a $1.75 price target on the stock.

PEDEVCO Price Performance

Shares of NYSE PED opened at $0.91 on Friday. The stock’s 50 day moving average price is $0.93 and its two-hundred day moving average price is $0.93. PEDEVCO has a 52-week low of $0.61 and a 52-week high of $1.10. The stock has a market capitalization of $81.24 million, a P/E ratio of -90,990.00 and a beta of 0.60.

PEDEVCO (NYSE:PED) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. PEDEVCO had a return on equity of 0.38% and a net margin of 1.12%. The business had revenue of $11.81 million for the quarter, compared to analyst estimates of $9.05 million. On average, analysts anticipate that PEDEVCO will post 0.06 EPS for the current year.

About PEDEVCO

PEDEVCO Corp., an oil and gas company, focuses on the acquisition, development, and production of oil and natural gas assets in the United States. It holds interests in the Permian Basin asset covering an area of approximately 22,721 net acres located in New Mexico; and D-J Basin asset covering an area of approximately 19,214 net acres located in Wyoming.