PEDEVCO's (PED) Buy Rating Reiterated at D. Boral Capital

D. Boral Capital reissued their buy rating on shares of PEDEVCO (NYSE:PED - Free Report) in a report released on Wednesday,Benzinga reports. D. Boral Capital currently has a $1.50 price objective on the stock.

Separately, StockNews.com started coverage on shares of PEDEVCO in a report on Thursday, March 27th. They issued a "sell" rating on the stock.

PEDEVCO Stock Down 7.7 %

PED stock traded down $0.04 during midday trading on Wednesday, hitting $0.52. 386,393 shares of the company traded hands, compared to its average volume of 103,714. PEDEVCO has a twelve month low of $0.47 and a twelve month high of $1.10. The stock has a market capitalization of $46.27 million, a price-to-earnings ratio of 25.41 and a beta of 0.29. The business has a 50 day simple moving average of $0.74 and a 200-day simple moving average of $0.83.

Insider Transactions at PEDEVCO

In related news, VP Moore Clark sold 50,000 shares of the 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 completion of the sale, the vice president now owns 855,334 shares in the company, valued at approximately $735,587.24. This trade represents a 5.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John Douglas Schick sold 120,000 shares of the business's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $0.76, for a total value of $91,200.00. Following the transaction, the chief executive officer now owns 1,577,133 shares in the company, valued at $1,198,621.08. This represents a 7.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 441,334 shares of company stock worth $348,317 over the last three months. 70.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu Financial LLC raised its stake in shares of 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 buying an additional 21,499 shares in the last quarter. Citadel Advisors LLC raised its position in PEDEVCO by 232.5% in the 4th quarter. Citadel Advisors LLC now owns 186,415 shares of the company's stock valued at $145,000 after purchasing an additional 130,349 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in PEDEVCO by 19.7% in the fourth 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. 3.26% of the stock is owned by institutional investors.

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.