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

StockNews.com assumed coverage on shares of PEDEVCO (NYSE:PED) in a research report report published on Wednesday morning. The firm issued a sell rating on the stock.

Separately, D. Boral Capital lowered their price target on shares of PEDEVCO from $2.25 to $1.50 and set a “buy” rating on the stock in a research note on Wednesday, November 20th.

PEDEVCO Price Performance

Shares of PED opened at $0.85 on Wednesday. The company has a 50 day moving average of $0.82 and a 200-day moving average of $0.90. The stock has a market capitalization of $76.08 million, a P/E ratio of 42.52 and a beta of 0.52. PEDEVCO has a twelve month low of $0.61 and a twelve month high of $1.10.

Insider Buying and Selling at PEDEVCO

In other news, CAO Paul Anthony Pinkston sold 35,000 shares of the stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $0.74, for a total value of $25,900.00. Following the completion of the sale, the chief accounting officer now owns 714,700 shares of the company’s stock, valued at approximately $528,878. This represents a 4.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 70.60% of the company’s stock.

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.