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

Pedevco Corp. (NYSEAMERICAN:PED)’s share price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $13.59 and traded as low as $11.50. Pedevco shares last traded at $11.81, with a volume of 15,938 shares traded.

Analyst Ratings Changes

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

Pedevco Stock Performance

The firm’s 50 day moving average is $13.17 and its two-hundred day moving average is $13.59. 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 stock has a market capitalization of $156.95 million, a PE ratio of 393.80 and a beta of 0.18.

Pedevco (NYSEAMERICAN:PED) last announced its quarterly earnings data 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 company had revenue of $40.22 million during 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, research analysts predict that Pedevco Corp. will post 0.7 earnings per share for the current year.

Insider Buying and Selling

In other Pedevco news, VP Moore Clark sold 18,797 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $14.67, for a total value of $275,751.99. Following the sale, the vice president directly owned 54,428 shares of the company’s stock, valued at approximately $798,458.76. This represents a 25.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Martyn Willsher acquired 13,428 shares of Pedevco stock in a transaction dated 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 completion of the acquisition, the director directly owned 25,727 shares in the company, valued at approximately $367,638.83. This represents a 109.18% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 54.90% of the company’s stock.

Hedge Funds Weigh In On Pedevco

A hedge fund recently bought a new position in Pedevco stock. Juniper Capital Advisors L.P. acquired a new position in shares of Pedevco Corp. (NYSEAMERICAN:PED) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 196,359 shares of the company’s stock, valued at approximately $110,000. Pedevco comprises about 0.0% of Juniper Capital Advisors L.P.’s holdings, making the stock its 2nd biggest holding. Juniper Capital Advisors L.P. owned about 0.21% of Pedevco at the end of the most recent reporting period. 3.26% of the stock is owned by institutional investors and hedge funds.

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.