StockNews.com Initiates Coverage on PEDEVCO (NYSE:PED)

Analysts at StockNews.com assumed coverage on shares of PEDEVCO (NYSE:PEDGet Free Report) in a research report issued to clients and investors on Wednesday. The firm set a “sell” rating on the stock.

PEDEVCO Stock Down 3.4 %

Shares of NYSE PED opened at $0.89 on Wednesday. The business’s 50 day moving average price is $0.92 and its 200 day moving average price is $0.82. The firm has a market cap of $79.17 million, a P/E ratio of 88.60 and a beta of 0.54. PEDEVCO has a 52 week low of $0.61 and a 52 week high of $1.13.

PEDEVCO (NYSE:PEDGet Free Report) last released its quarterly earnings data on Wednesday, May 15th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. PEDEVCO had a return on equity of 1.31% and a net margin of 3.99%. The business had revenue of $8.12 million for the quarter, compared to analyst estimates of $6.47 million. As a group, research analysts expect that PEDEVCO will post 0.03 earnings per share for the current year.

About PEDEVCO

(Get Free Report)

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.

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