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

Stock analysts at StockNews.com began coverage on shares of PEDEVCO (NYSE:PED) in a report issued on Friday. The brokerage set a “sell” rating on the stock.

Separately, D. Boral Capital cut their price objective on PEDEVCO from $2.25 to $1.50 and set a “buy” rating for the company in a research report on Wednesday, November 20th.

PEDEVCO Stock Performance

Shares of NYSE:PED opened at $0.78 on Friday. PEDEVCO has a 52-week low of $0.61 and a 52-week high of $1.10. The company has a market capitalization of $69.65 million, a P/E ratio of 39.02 and a beta of 0.51. The company has a 50-day simple moving average of $0.90 and a 200 day simple moving average of $0.91.

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.