Pedevco (NYSEAMERICAN:PED) Shares Break Above 50 Day Moving Average – What’s Next?

Shares of Pedevco Corp. (NYSEAMERICAN:PED) passed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $12.88 and traded as high as $13.12. Pedevco shares last traded at $12.98, with a volume of 20,915 shares trading hands.

Analyst Ratings Changes

Separately, Zacks Research raised shares of Pedevco from a “strong sell” rating to a “hold” rating in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy”.

Pedevco Price Performance

The company has a 50-day moving average of $12.90 and a 200-day moving average of $13.87. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market cap of $174.36 million, a price-to-earnings ratio of 437.48 and a beta of 0.26.

Pedevco (NYSEAMERICAN:PED) last posted its quarterly earnings data on Thursday, August 13th. The company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.95. The company had revenue of $46.11 million during the quarter, compared to analysts’ expectations of $38.00 million. Pedevco had a positive return on equity of 0.67% and a negative net margin of 14.61%. As a group, equities research analysts predict that Pedevco Corp. will post 0.82 earnings per share for the current year.

Insider Buying and Selling at Pedevco

In related news, VP Moore Clark sold 5,277 shares of the stock in a transaction 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 directly owned 45,385 shares of the company’s stock, valued at $568,674.05. This trade represents a 10.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 10,260 shares of company stock worth $129,417 over the last three months. 54.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pedevco

An institutional investor recently bought a new position in Pedevco stock. Juniper Capital Advisors L.P. bought a new position in Pedevco Corp. (NYSEAMERICAN:PED) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 196,359 shares of the company’s stock, valued at approximately $110,000. Pedevco accounts for 0.0% of Juniper Capital Advisors L.P.’s portfolio, making the stock its 2nd largest position. Juniper Capital Advisors L.P. owned approximately 0.21% of Pedevco at the end of the most recent reporting period. 3.26% of the stock is owned by hedge funds and other institutional investors.

About Pedevco

PEDEVCO Corp. 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 producing and development-stage assets in established onshore basins.

PEDEVCO’s operations have included properties in the Permian Basin of New Mexico and the Denver-Julesburg (D-J) Basin of Colorado. Its activities generally include operating wells, developing undeveloped acreage and pursuing additional oil and natural gas acquisition opportunities.

The company was formerly known as Pacific Energy Development Corp.