PEDEVCO (NYSE:PED) Receives “Buy” Rating from D. Boral Capital

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

Separately, StockNews.com started coverage on shares of PEDEVCO in a report on Thursday, March 27th. They set a “sell” rating for the company.

PEDEVCO Price Performance

Shares of PED stock opened at $0.56 on Wednesday. PEDEVCO has a 1 year low of $0.54 and a 1 year high of $1.10. The firm has a market capitalization of $50.13 million, a price-to-earnings ratio of 28.02 and a beta of 0.29. The business has a fifty day moving average of $0.74 and a 200 day moving average of $0.83.

Insider Transactions at PEDEVCO

In related news, VP Moore Clark sold 50,000 shares of the firm’s stock in a transaction on Thursday, January 23rd. The shares were 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 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 can be accessed through this hyperlink. Also, CEO John Douglas Schick sold 120,000 shares of PEDEVCO stock in a transaction on Monday, January 27th. The shares were sold at an average price of $0.76, for a total transaction of $91,200.00. Following the completion of the transaction, the chief executive officer now directly owns 1,577,133 shares of the company’s stock, valued at $1,198,621.08. The trade was a 7.07 % 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 90 days. 70.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PEDEVCO

Large investors have recently bought and sold shares of the business. Citadel Advisors LLC grew its holdings in PEDEVCO by 232.5% in the fourth 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 period. Renaissance Technologies LLC lifted its position 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 buying an additional 48,132 shares in the last quarter. Finally, Virtu Financial LLC lifted its position in shares of PEDEVCO by 129.9% during 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. Institutional investors and hedge funds own 3.26% of the company’s stock.

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.