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

StockNews.com began coverage on shares of PEDEVCO (NYSE:PED) in a research note published on Sunday morning. The brokerage issued a sell rating on the stock.

Separately, Alliance Global Partners assumed coverage on PEDEVCO in a research report on Wednesday, July 17th. They issued a buy rating and a $1.75 target price for the company.

PEDEVCO Trading Down 1.5 %

Shares of PED opened at $0.87 on Friday. The company has a market capitalization of $77.68 million, a price-to-earnings ratio of 87.09 and a beta of 0.58. The stock has a 50 day moving average of $0.93 and a 200 day moving average of $0.89. PEDEVCO has a 12 month low of $0.61 and a 12 month high of $1.13.

PEDEVCO (NYSE:PED) last issued its quarterly earnings results on Wednesday, August 14th. The company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. The company had revenue of $11.81 million during the quarter, compared to the consensus estimate of $9.05 million. PEDEVCO had a return on equity of 0.38% and a net margin of 1.12%. As a group, equities research analysts predict that PEDEVCO will post 0.08 earnings per share for the current 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.