PEDEVCO (NYSE:PED) Receives "Buy" Rating from D. Boral Capital

PEDEVCO (NYSE:PED - Get Free Report)'s stock had its "buy" rating reaffirmed by D. Boral Capital in a report issued on Thursday,Benzinga reports. They currently have a $1.50 target price on the stock. D. Boral Capital's price target would suggest a potential upside of 104.97% from the company's current price.

Separately, StockNews.com began coverage on PEDEVCO in a research note on Tuesday, March 11th. They issued a "sell" rating on the stock.

PEDEVCO Stock Down 0.0 %

NYSE:PED traded down $0.00 during trading hours on Thursday, hitting $0.73. 54,469 shares of the stock were exchanged, compared to its average volume of 102,495. The company's 50 day moving average is $0.79 and its two-hundred day moving average is $0.85. PEDEVCO has a twelve month low of $0.69 and a twelve month high of $1.10. The company has a market capitalization of $65.49 million, a P/E ratio of 36.61 and a beta of 0.35.

Insider Activity

In related news, CAO Paul Anthony Pinkston sold 65,000 shares of the firm's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $0.76, for a total transaction of $49,400.00. Following the sale, the chief accounting officer now owns 816,700 shares of the company's stock, valued at approximately $620,692. This trade represents a 7.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Moore Clark sold 125,000 shares of the firm's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $0.76, for a total value of $95,000.00. Following the sale, the vice president now directly owns 1,080,334 shares in the company, valued at $821,053.84. The trade was a 10.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 476,334 shares of company stock valued at $374,217 in the last 90 days. 70.60% of the stock is owned by company insiders.

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Institutional Trading of PEDEVCO

Hedge funds have recently added to or reduced their stakes in the business. Citadel Advisors LLC raised its stake in PEDEVCO by 232.5% during the 4th quarter. Citadel Advisors LLC now owns 186,415 shares of the company's stock worth $145,000 after buying an additional 130,349 shares during the period. Renaissance Technologies LLC increased its holdings in PEDEVCO by 19.7% during the 4th quarter. Renaissance Technologies LLC now owns 292,736 shares of the company's stock worth $228,000 after purchasing an additional 48,132 shares in the last quarter. Finally, Virtu Financial LLC increased its holdings in PEDEVCO by 129.9% during the 4th quarter. Virtu Financial LLC now owns 38,045 shares of the company's stock worth $30,000 after purchasing an additional 21,499 shares in the last quarter. Institutional investors and hedge funds own 3.26% 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.