Pedevco (NYSEAMERICAN:PED) Share Price Crosses Below 200 Day Moving Average – Here’s What Happened

Pedevco Corp. (NYSEAMERICAN:PED) shares passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $13.72 and traded as low as $13.34. Pedevco shares last traded at $13.34, with a volume of 19,542 shares changing hands.

Wall Street Analyst Weigh In

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

Pedevco Price Performance

The firm has a market capitalization of $177.29 million, a price-to-earnings ratio of 444.81 and a beta of 0.32. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.42. The company’s fifty day moving average is $14.22 and its two-hundred day moving average is $13.72.

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

Insider Transactions at Pedevco

In other Pedevco news, VP Moore Clark sold 5,277 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $12.53, for a total transaction of $66,120.81. Following the transaction, the vice president owned 45,385 shares in the company, valued at approximately $568,674.05. This trade represents a 10.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Simon G. Kukes bought 147,070 shares of the firm’s stock in a transaction dated Thursday, October 8th. The shares were bought at an average price of $13.00 per share, with a total value of $1,911,910.00. Following the completion of the transaction, the insider directly owned 4,137,543 shares in the company, valued at approximately $53,788,059. This trade represents a 3.69% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have sold 10,260 shares of company stock worth $129,417. Company insiders own 54.90% of the company’s stock.

Institutional Investors Weigh In On Pedevco

An institutional investor recently bought a new stake in Pedevco stock. State Street Corp bought a new position in Pedevco Corp. (NYSEAMERICAN:PED) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 11,325 shares of the company’s stock, valued at approximately $152,000. State Street Corp owned 0.09% of Pedevco as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 3.26% of the company’s stock.

About Pedevco

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. Its operations are focused on onshore assets, with production consisting primarily of crude oil, natural gas and natural gas liquids. The company has historically pursued opportunities in the Permian Basin of New Mexico and the Denver-Julesburg Basin in Colorado. PEDEVCO has used acquisitions, drilling and development activities to build its portfolio of producing and prospective properties in these regions.