Pedevco (NYSEAMERICAN:PED) Stock Passes Below Two Hundred Day Moving Average – Should You Sell?

Pedevco Corp. (NYSEAMERICAN:PED) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $13.61 and traded as low as $10.01. Pedevco shares last traded at $10.01, with a volume of 16,722 shares changing hands.

Wall Street Analyst Weigh In

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

Pedevco Stock Performance

The business has a 50-day moving average of $12.33 and a two-hundred day moving average of $13.61. The company has a market cap of $133.03 million, a P/E ratio of 333.78 and a beta of 0.23. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.68 and a quick ratio of 0.67.

Pedevco (NYSEAMERICAN:PED) last announced its 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 firm had revenue of $40.22 million during the quarter, compared to the consensus estimate of $37.65 million. Pedevco had a negative return on equity of 3.20% and a negative net margin of 46.78%. On average, sell-side analysts predict that Pedevco Corp. will post 0.7 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Martyn Willsher acquired 13,428 shares of Pedevco stock in a transaction that occurred on Tuesday, May 26th. The stock was purchased at an average price of $14.29 per share, for a total transaction of $191,886.12. Following the purchase, the director directly owned 25,727 shares in the company, valued at $367,638.83. The trade was a 109.18% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Moore Clark sold 18,797 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $14.67, for a total transaction of $275,751.99. Following the transaction, the vice president owned 54,428 shares of the company’s stock, valued at approximately $798,458.76. This trade represents a 25.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 54.90% 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 stake in shares of Pedevco Corp. (NYSEAMERICAN:PED) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 196,359 shares of the company’s stock, valued at approximately $110,000. Pedevco comprises 0.0% of Juniper Capital Advisors L.P.’s investment portfolio, making the stock its 2nd largest holding. Juniper Capital Advisors L.P. owned approximately 0.21% of Pedevco at the end of the most recent quarter. Institutional investors and hedge funds 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.