PEDEVCO (NYSE:PED) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of PEDEVCO (NYSE:PED - Get Free Report) in a research report issued to clients and investors on Thursday. The brokerage set a "sell" rating on the stock.

Separately, D. Boral Capital reiterated a "buy" rating and issued a $1.50 target price on shares of PEDEVCO in a research report on Thursday, March 13th.

PEDEVCO Trading Down 2.8 %

Shares of PED stock traded down $0.02 during trading hours on Thursday, hitting $0.70. 60,783 shares of the company's stock were exchanged, compared to its average volume of 99,323. The company has a market capitalization of $62.65 million, a PE ratio of 35.02 and a beta of 0.35. PEDEVCO has a 12-month low of $0.69 and a 12-month high of $1.10. The business's 50 day simple moving average is $0.76 and its 200-day simple moving average is $0.84.

Insiders Place Their Bets

In related news, CEO John Douglas Schick sold 58,334 shares of the firm'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 sale, the chief executive officer now directly owns 1,197,133 shares of the company's stock, valued at $1,029,534.38. This trade represents 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 business's stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $0.86, for a total value of $43,000.00. Following the transaction, the vice president now owns 855,334 shares in the company, valued at approximately $735,587.24. This represents a 5.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 441,334 shares of company stock valued at $348,317 in the last ninety days. Company insiders own 70.60% of the company's stock.

Institutional Investors Weigh In On PEDEVCO

A number of large investors have recently made changes to their positions in the business. Virtu Financial LLC raised its holdings in shares of PEDEVCO by 129.9% during the fourth quarter. Virtu Financial LLC now owns 38,045 shares of the company's stock valued at $30,000 after acquiring an additional 21,499 shares in the last quarter. Citadel Advisors LLC raised its holdings in PEDEVCO by 232.5% in the 4th quarter. Citadel Advisors LLC now owns 186,415 shares of the company's stock worth $145,000 after purchasing an additional 130,349 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of PEDEVCO by 19.7% in 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 during the period. 3.26% of the stock is currently owned by institutional investors.

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.