PEDEVCO (NYSE:PED) Earns Sell Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of PEDEVCO (NYSE:PED - Get Free Report) in a note issued to investors on Wednesday. The brokerage set a "sell" rating on the stock.

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

PEDEVCO Stock Up 1.4 %

PED stock traded up $0.01 during mid-day trading on Wednesday, reaching $0.75. 49,094 shares of the company traded hands, compared to its average volume of 100,604. The firm's 50 day moving average price is $0.78 and its 200 day moving average price is $0.84. The stock has a market cap of $67.12 million, a price-to-earnings ratio of 37.52 and a beta of 0.35. PEDEVCO has a fifty-two week low of $0.69 and a fifty-two week high of $1.10.

Insider Buying and Selling at PEDEVCO

In related news, CAO Paul Anthony Pinkston sold 35,000 shares of the stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $0.74, for a total transaction of $25,900.00. Following the completion of the transaction, the chief accounting officer now owns 714,700 shares in the company, valued at approximately $528,878. This represents a 4.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Moore Clark sold 125,000 shares of PEDEVCO stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $0.76, for a total transaction of $95,000.00. Following the completion of the sale, the vice president now directly owns 1,080,334 shares in the company, valued at approximately $821,053.84. This represents a 10.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 476,334 shares of company stock worth $374,217. Insiders own 70.60% of the company's stock.

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Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PED. Virtu Financial LLC lifted its stake in PEDEVCO by 129.9% in the fourth 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. Citadel Advisors LLC lifted its position in shares of PEDEVCO by 232.5% during the 4th quarter. Citadel Advisors LLC now owns 186,415 shares of the company's stock valued at $145,000 after buying an additional 130,349 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of 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 acquiring an additional 48,132 shares during the period. 3.26% of the stock is 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.