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

Pedevco Corp. (NYSEAMERICAN:PED) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $13.33 and traded as low as $11.82. Pedevco shares last traded at $12.58, with a volume of 7,045 shares.

Wall Street Analyst Weigh In

Separately, Zacks Research lowered shares of Pedevco from a “hold” rating to a “strong sell” rating in a research note on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Pedevco Stock Performance

The company has a quick ratio of 0.67, a current ratio of 0.68 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $167.31 million, a P/E ratio of 419.47 and a beta of 0.20. The stock has a fifty day moving average of $14.66 and a 200-day moving average of $13.33.

Pedevco (NYSEAMERICAN:PED) last posted its quarterly earnings data 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). The firm had revenue of $40.22 million for 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, research analysts anticipate that Pedevco Corp. will post 1.58 EPS for the current year.

Insider Activity at Pedevco

In other Pedevco news, Director Martyn Willsher acquired 13,428 shares of Pedevco stock in a transaction dated Tuesday, May 26th. The stock was bought at an average cost 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 approximately $367,638.83. This represents 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. 70.40% of the stock is currently owned by corporate insiders.

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 position in shares of Pedevco Corp. (NYSEAMERICAN:PED) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 holdings, making the stock its 2nd largest position. Juniper Capital Advisors L.P. owned about 0.21% of Pedevco at the end of the most recent quarter. 3.26% of the stock is currently owned by institutional investors.

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.