Pedevco (NYSEAMERICAN:PED) Rating Lowered to “Strong Sell” at Zacks Research

Pedevco (NYSEAMERICAN:PED) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

Pedevco Stock Down 1.6%

PED opened at $13.20 on Monday. The company has a market cap of $175.56 million, a P/E ratio of 440.15 and a beta of 0.20. Pedevco has a 12 month low of $8.64 and a 12 month high of $18.89. The business’s 50-day moving average price is $15.10 and its 200-day moving average price is $13.21. The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 0.54.

Pedevco (NYSEAMERICAN:PED) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($3.28) EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($3.90). The company had revenue of $40.22 million during the quarter, compared to analysts’ expectations of $37.65 million. Pedevco had a negative return on equity of 3.20% and a negative net margin of 46.78%. On average, equities analysts expect that Pedevco will post 1.58 EPS for the current year.

Insiders Place Their Bets

In other news, Director Martyn Willsher purchased 13,428 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were acquired at an average price of $14.29 per share, with a total value of $191,886.12. Following the acquisition, the director directly owned 25,727 shares in the company, valued at approximately $367,638.83. The trade was a 109.18% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 70.40% of the stock is owned by insiders.

Institutional Trading of Pedevco

A hedge fund recently bought a new stake in Pedevco stock. Juniper Capital Advisors L.P. acquired a new position in Pedevco Corp. (NYSEAMERICAN:PED) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 196,359 shares of the company’s stock, valued at approximately $110,000. Pedevco makes up 0.0% of Juniper Capital Advisors L.P.’s investment portfolio, making the stock its 2nd biggest position. Juniper Capital Advisors L.P. owned about 0.21% of Pedevco at the end of the most recent quarter. Institutional investors own 3.26% of the company’s stock.

About Pedevco

Pedevco Corp is an independent oil and gas exploration and production company incorporated in Delaware and listed on the NYSE American under the ticker symbol PED. The firm focuses on acquiring, developing and producing hydrocarbon assets, with a strategic emphasis on shallow water and onshore properties in Trinidad and Tobago. Since its listing, Pedevco has pursued opportunities to expand reserves through targeted exploration and development projects in one of the Caribbean’s most prolific hydrocarbon-producing regions.

The company’s portfolio centers on two primary concession areas in Trinidad and Tobago: the O-55 shallow water offshore block and the onshore Block 3(a) license.