Pedevco (NYSEAMERICAN:PED) Shares Cross Below Two Hundred Day Moving Average – Time to Sell?

Pedevco Corp. (NYSEAMERICAN:PED) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $13.61 and traded as low as $10.01. Pedevco shares last traded at $10.01, with a volume of 16,722 shares traded.

Wall Street Analyst Weigh In

Separately, Zacks Research raised Pedevco from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy”.

Pedevco Stock Performance

The company has a quick ratio of 0.67, a current ratio of 0.68 and a debt-to-equity ratio of 0.54. The business has a 50 day simple moving average of $12.23 and a two-hundred day simple moving average of $13.58. The firm has a market cap of $141.01 million, a PE ratio of 353.78 and a beta of 0.23.

Pedevco (NYSEAMERICAN:PED) last issued its earnings results on Thursday, May 14th. The company reported ($3.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($3.90). The company had revenue of $40.22 million for the quarter, compared to analysts’ expectations of $37.65 million. Pedevco had a negative net margin of 46.78% and a negative return on equity of 3.20%. As a group, equities research analysts forecast that Pedevco Corp. will post 0.7 earnings per share for the current fiscal year.

Insider Transactions at Pedevco

In related news, Director Martyn Willsher bought 13,428 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were acquired at an average cost of $14.29 per share, for a total transaction of $191,886.12. Following the purchase, the director directly owned 25,727 shares of the company’s stock, valued at approximately $367,638.83. The trade was a 109.18% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Moore Clark sold 18,797 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $14.67, for a total transaction of $275,751.99. Following the transaction, the vice president directly owned 54,428 shares in the company, valued at approximately $798,458.76. This trade represents a 25.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 54.90% of the company’s stock.

Institutional Trading of Pedevco

An institutional investor recently bought a new position in Pedevco stock. Juniper Capital Advisors L.P. acquired a new position in Pedevco Corp. (NYSEAMERICAN:PED) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 196,359 shares of the company’s stock, valued at approximately $110,000. Pedevco makes up about 0.0% of Juniper Capital Advisors L.P.’s investment portfolio, making the stock its 2nd biggest holding. Juniper Capital Advisors L.P. owned approximately 0.21% of Pedevco as of its most recent SEC filing. 3.26% of the stock is currently owned by institutional investors and hedge funds.

About Pedevco

Pedevco Corp is an independent oil and gas exploration and production company incorporated in Delaware and listed on the NYSE American under the ticker symbol PED. The firm focuses on acquiring, developing and producing hydrocarbon assets, with a strategic emphasis on shallow water and onshore properties in Trinidad and Tobago. Since its listing, Pedevco has pursued opportunities to expand reserves through targeted exploration and development projects in one of the Caribbean’s most prolific hydrocarbon-producing regions.

The company’s portfolio centers on two primary concession areas in Trinidad and Tobago: the O-55 shallow water offshore block and the onshore Block 3(a) license.