Pedevco (NYSEAMERICAN:PED) Stock: Insider Simon Kukes Buys 147,070 Shares

Pedevco Corp. (NYSEAMERICAN:PED) major shareholder Simon Kukes acquired 147,070 shares of the stock in a transaction dated Thursday, October 8th. The stock was acquired at an average cost of $13.00 per share, for a total transaction of $1,911,910.00. Following the purchase, the insider directly owned 4,137,543 shares in the company, valued at approximately $53,788,059. The trade was a 3.69% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Pedevco Stock Down 3.3%

NYSEAMERICAN PED opened at $12.81 on Thursday. Pedevco Corp. has a 12 month low of $8.64 and a 12 month high of $18.89. The company has a market capitalization of $170.24 million, a P/E ratio of 427.14 and a beta of 0.41. The company’s 50 day simple moving average is $13.32 and its 200 day simple moving average is $13.63. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.78 and a quick ratio of 0.78.

Pedevco (NYSEAMERICAN:PED) last issued its earnings results on Thursday, August 13th. The company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.95. The firm had revenue of $46.11 million during the quarter, compared to analysts’ expectations of $38.00 million. Pedevco had a negative net margin of 14.61% and a positive return on equity of 0.67%. Equities research analysts expect that Pedevco Corp. will post 0.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pedevco

An institutional investor recently bought a new position in Pedevco stock. Juniper Capital Advisors L.P. acquired a new stake in shares of Pedevco Corp. (NYSEAMERICAN:PED) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 196,359 shares of the company’s stock, valued at approximately $110,000. Pedevco makes up about 0.0% of Juniper Capital Advisors L.P.’s holdings, making the stock its 2nd biggest position. Juniper Capital Advisors L.P. owned 0.21% of Pedevco at the end of the most recent quarter. 3.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Zacks Research raised Pedevco from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Pedevco has an average rating of “Buy”.

Pedevco Company Profile

PEDEVCO Corp. (NYSE American: PED) is an independent energy company engaged in the acquisition, development and production of oil and natural gas properties in the United States. The company focuses on building a portfolio of domestic energy assets and generating production through the development of existing properties.

PEDEVCO’s activities have included oil and natural gas operations in major U.S. producing regions, including the Permian Basin and the Denver-Julesburg Basin. Its operations generally involve acquiring mineral and leasehold interests, drilling and completing wells, and managing production and related field activities.

The company was formerly known as Pacific Energy Development Corporation before adopting the PEDEVCO name.