Pedevco (NYSEAMERICAN:PED) Stock Price Passes Below 200-Day Moving Average – Here’s Why

Pedevco Corp. (NYSEAMERICAN:PED)’s share price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $13.33 and traded as low as $11.82. Pedevco shares last traded at $12.58, with a volume of 7,045 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Zacks Research cut shares of Pedevco from a “hold” rating to a “strong sell” rating in a research report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Pedevco has a consensus rating of “Moderate Buy”.

Pedevco Stock Up 1.4%

The firm’s 50-day simple moving average is $14.66 and its 200 day simple moving average is $13.33. The company has a market cap of $167.31 million, a P/E ratio of 419.47 and a beta of 0.20. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.67 and a current ratio of 0.68.

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

Insider Activity

In other news, Director Martyn Willsher purchased 13,428 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was bought 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 of the company’s stock, valued at approximately $367,638.83. This represents 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 this hyperlink. 70.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pedevco

An institutional investor recently bought a new position in Pedevco stock. Juniper Capital Advisors L.P. purchased a new stake in Pedevco Corp. (NYSEAMERICAN:PED) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 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 position. 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.

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.