What is Roth Capital's Estimate for PEDEVCO FY2024 Earnings?

PEDEVCO Corp. (NYSE:PED - Free Report) - Equities researchers at Roth Capital raised their FY2024 earnings per share estimates for PEDEVCO in a note issued to investors on Tuesday, March 4th. Roth Capital analyst J. White now expects that the company will earn $0.08 per share for the year, up from their previous forecast of $0.06. The consensus estimate for PEDEVCO's current full-year earnings is $0.06 per share. Roth Capital also issued estimates for PEDEVCO's Q3 2025 earnings at $0.01 EPS and FY2025 earnings at $0.05 EPS.

A number of other research analysts have also commented on the company. D. Boral Capital decreased their price objective on PEDEVCO from $2.25 to $1.50 and set a "buy" rating on the stock in a report on Wednesday, November 20th. StockNews.com initiated coverage on shares of PEDEVCO in a research note on Monday, March 3rd. They issued a "sell" rating on the stock.

PEDEVCO Stock Performance

Shares of NYSE PED traded up $0.00 during trading hours on Thursday, reaching $0.70. 27,571 shares of the stock were exchanged, compared to its average volume of 103,600. The firm has a market capitalization of $62.87 million, a price-to-earnings ratio of 35.14 and a beta of 0.35. The stock's fifty day simple moving average is $0.80 and its 200 day simple moving average is $0.85. PEDEVCO has a 52 week low of $0.69 and a 52 week high of $1.10.

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Insider Activity at PEDEVCO

In related news, CEO John Douglas Schick sold 58,334 shares of the business's stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $0.86, for a total value of $50,167.24. Following the completion of the transaction, the chief executive officer now owns 1,197,133 shares of the company's stock, valued at $1,029,534.38. The trade was a 4.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Moore Clark sold 50,000 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $0.86, for a total transaction of $43,000.00. Following the sale, the vice president now owns 855,334 shares in the company, valued at $735,587.24. The trade was a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 476,334 shares of company stock worth $374,217. Company insiders own 70.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC lifted its stake in PEDEVCO by 129.9% in the 4th quarter. Virtu Financial LLC now owns 38,045 shares of the company's stock valued at $30,000 after purchasing an additional 21,499 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of PEDEVCO by 19.7% during the 4th quarter. Renaissance Technologies LLC now owns 292,736 shares of the company's stock valued at $228,000 after acquiring an additional 48,132 shares in the last quarter. Finally, Citadel Advisors LLC grew its position 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 acquiring an additional 130,349 shares during the last quarter. 3.26% of the stock is currently owned by institutional investors and hedge funds.

PEDEVCO Company Profile

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.