PEDEVCO (NYSE:PED) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of PEDEVCO (NYSE:PED) in a research report released on Sunday. The brokerage issued a sell rating on the stock.

Separately, Alliance Global Partners initiated coverage on PEDEVCO in a report on Wednesday, July 17th. They issued a buy rating and a $1.75 price objective on the stock.

PEDEVCO Stock Down 1.5 %

NYSE PED opened at $0.87 on Friday. The stock’s 50-day simple moving average is $0.93 and its two-hundred day simple moving average is $0.89. PEDEVCO has a twelve month low of $0.61 and a twelve month high of $1.13. The company has a market capitalization of $77.68 million, a price-to-earnings ratio of 87.09 and a beta of 0.58.

PEDEVCO (NYSE:PED) last released its quarterly earnings results on Wednesday, August 14th. The company reported $0.03 earnings per share for the quarter, meeting analysts’ consensus estimates 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 the consensus estimate of $9.05 million. On average, equities analysts expect that PEDEVCO will post 0.08 earnings per share for the current fiscal 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.