Pedevco Corp. (NYSEAMERICAN:PED) Stock Short Interest Report for September

Pedevco Corp. (NYSEAMERICAN:PED) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 61,588 shares, a drop of 39.7% from the September 15th total of 102,152 shares. Based on an average trading volume of 33,488 shares, the short-interest ratio is presently 1.8 days. Currently, 1.0% of the company’s shares are short sold.

Pedevco Trading Up 1.6%

NYSEAMERICAN PED opened at $13.69 on Friday. 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 company has a market capitalization of $181.94 million, a price-to-earnings ratio of 456.49 and a beta of 0.41. The company’s 50-day simple moving average is $13.43 and its two-hundred day simple moving average is $13.60. Pedevco has a one year low of $8.64 and a one year high of $18.89.

Pedevco (NYSEAMERICAN:PED) last announced its quarterly earnings results on Thursday, August 13th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $38.00 million. Equities analysts forecast that Pedevco will post 0.82 EPS for the current fiscal year.

Insider Buying and Selling

In other Pedevco news, major shareholder Simon G. Kukes acquired 147,070 shares of the business’s stock in a transaction on Thursday, October 8th. The shares were bought at an average price of $13.00 per share, with a total value of $1,911,910.00. Following the transaction, the insider directly owned 4,137,543 shares of the company’s stock, valued at $53,788,059. The trade was a 3.69% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, VP Moore Clark sold 5,277 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $12.53, for a total value of $66,120.81. Following the completion of the transaction, the vice president directly owned 45,385 shares in the company, valued at $568,674.05. This trade represents a 10.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 10,260 shares of company stock valued at $129,417 over the last three months. 54.90% of the stock is owned by corporate insiders.

Institutional Trading of Pedevco

A hedge fund recently bought a new position in Pedevco stock. Juniper Capital Advisors L.P. bought a new stake in shares of Pedevco Corp. (NYSEAMERICAN:PED) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 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 portfolio, making the stock its 2nd biggest 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 institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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 issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy”.

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.