PEDEVCO Stock Scheduled to Reverse Split on Friday, March 13th (NYSE:PED)

Shares of PEDEVCO Corp. (NYSE:PED) are scheduled to reverse split on Friday, March 13th. The 1-20 reverse split was announced on Tuesday, March 3rd. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, March 12th.

PEDEVCO Price Performance

Shares of PED opened at $0.59 on Thursday. PEDEVCO has a 1 year low of $0.43 and a 1 year high of $0.82. The stock’s fifty day moving average price is $0.59 and its two-hundred day moving average price is $0.58. The firm has a market cap of $56.17 million, a PE ratio of 29.41 and a beta of 0.35.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Roth Mkm raised shares of PEDEVCO to a “strong-buy” rating in a report on Monday, November 17th. Zacks Research raised shares of PEDEVCO to a “hold” rating in a research report on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $1.50.

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. (NYSE:PED) during the 4th quarter, according to 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 approximately 0.0% of Juniper Capital Advisors L.P.’s investment portfolio, making the stock its 2nd biggest position. Juniper Capital Advisors L.P. owned approximately 0.21% of PEDEVCO as of its most recent SEC filing. 3.26% of the stock is owned by institutional investors.

About PEDEVCO

Pedevco Corp is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties. The company focuses on leveraging a low-cost development model to unlock value from its onshore assets, applying reservoir characterization, well optimization and cost-effective completion techniques. Pedevco’s operational strategy emphasizes efficient use of existing infrastructure and disciplined capital allocation to maximize production and reserves recovery.

The company’s asset portfolio is concentrated in onshore U.S.