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

Pedevco Corp. (NYSEAMERICAN:PED)’s stock price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 trading hands.

Analyst Ratings Changes

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

Pedevco Price Performance

The stock has a 50 day moving average of $14.14 and a two-hundred day moving average of $13.40. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.67 and a current ratio of 0.68. The firm has a market capitalization of $158.27 million, a P/E ratio of 396.80 and a beta of 0.20.

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

Insider Activity

In other news, Director Martyn Willsher acquired 13,428 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was acquired at an average cost of $14.29 per share, with a total value of $191,886.12. Following the acquisition, the director owned 25,727 shares in the company, valued at approximately $367,638.83. This represents a 109.18% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 70.40% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Pedevco stock. Juniper Capital Advisors L.P. purchased a new stake in shares of Pedevco Corp. (NYSEAMERICAN:PED) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 196,359 shares of the company’s stock, valued at approximately $110,000. Pedevco accounts for approximately 0.0% of Juniper Capital Advisors L.P.’s portfolio, 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 owned by hedge funds and other institutional investors.

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.