Pedevco (NYSEAMERICAN:PED) Shares Cross Below Two Hundred Day Moving Average – What’s Next?

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 $13.65 and traded as low as $13.03. Pedevco shares last traded at $13.24, with a volume of 9,829 shares traded.

Analyst Ratings Changes

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 investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Pedevco Stock Down 3.3%

The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.42. The firm has a market cap of $170.24 million, a PE ratio of 427.14 and a beta of 0.41. The business has a 50-day moving average price of $13.26 and a two-hundred day moving average price of $13.65.

Pedevco (NYSEAMERICAN:PED) last issued its earnings results on Thursday, August 13th. The company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.95. Pedevco had a negative net margin of 14.61% and a positive return on equity of 0.67%. The firm had revenue of $46.11 million during the quarter, compared to the consensus estimate of $38.00 million. On average, equities research analysts expect that Pedevco Corp. will post 0.82 EPS for the current year.

Insider Activity

In related news, VP Moore Clark sold 5,277 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the vice president owned 45,385 shares in the company, valued at $568,674.05. The trade was a 10.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Simon G. Kukes purchased 147,070 shares of the stock in a transaction that occurred on Thursday, October 8th. The stock was acquired at an average cost 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 SEC filing for this purchase provides additional information. Over the last ninety days, insiders have sold 10,260 shares of company stock valued at $129,417. Insiders own 54.90% of the company’s stock.

Institutional Trading of Pedevco

An institutional investor recently bought a new stake in Pedevco stock. State Street Corp bought a new stake in Pedevco Corp. (NYSEAMERICAN:PED) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,325 shares of the company’s stock, valued at approximately $152,000. State Street Corp owned approximately 0.09% of Pedevco at the end of the most recent quarter. 3.26% of the stock is owned by institutional investors and hedge funds.

About Pedevco

PEDEVCO Corp. (NYSE American: PED) is an independent energy company engaged in the acquisition, development and production of oil and natural gas properties in the United States. The company focuses on building a portfolio of domestic energy assets and generating production through the development of existing properties.

PEDEVCO’s activities have included oil and natural gas operations in major U.S. producing regions, including the Permian Basin and the Denver-Julesburg Basin. Its operations generally involve acquiring mineral and leasehold interests, drilling and completing wells, and managing production and related field activities.

The company was formerly known as Pacific Energy Development Corporation before adopting the PEDEVCO name.