Pedevco (NYSEAMERICAN:PED) Stock Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

Pedevco Corp. (NYSEAMERICAN:PED) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $13.40 and traded as low as $11.43. Pedevco shares last traded at $11.90, with a volume of 24,592 shares.

Analyst Ratings Changes

Separately, Zacks Research lowered Pedevco from a “hold” rating to a “strong sell” rating in a report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Pedevco Trading Down 0.3%

The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 0.54. The business’s fifty day simple moving average is $14.14 and its 200 day simple moving average is $13.40. The stock has a market cap of $158.27 million, a P/E ratio of 396.80 and a beta of 0.20.

Pedevco (NYSEAMERICAN:PED) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($3.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($3.90). The firm had revenue of $40.22 million for the quarter, compared to analyst estimates of $37.65 million. Pedevco had a negative net margin of 46.78% and a negative return on equity of 3.20%. As a group, analysts expect that Pedevco Corp. will post 1.58 EPS for the current year.

Insider Transactions at Pedevco

In other Pedevco news, Director Martyn Willsher bought 13,428 shares of Pedevco stock in a transaction dated Tuesday, May 26th. The shares were bought at an average price of $14.29 per share, with a total value of $191,886.12. Following the purchase, the director owned 25,727 shares of the company’s stock, valued at $367,638.83. This trade represents a 109.18% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 70.40% of the company’s stock.

Institutional Investors Weigh In On Pedevco

A hedge fund recently bought a new position in Pedevco stock. Juniper Capital Advisors L.P. acquired a new stake in Pedevco Corp. (NYSEAMERICAN:PED) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 196,359 shares of the company’s stock, valued at approximately $110,000. Pedevco accounts for 0.0% of Juniper Capital Advisors L.P.’s holdings, making the stock its 2nd largest holding. Juniper Capital Advisors L.P. owned approximately 0.21% of Pedevco as of its most recent SEC filing. 3.26% of the stock is currently owned by institutional investors.

Pedevco Company Profile

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.