Shares of PEDEVCO Corp. (NYSEAMERICAN:PED – Get Rating) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.11 and traded as low as $0.88. PEDEVCO shares last traded at $0.90, with a volume of 77,560 shares.
Analysts Set New Price Targets
PED has been the subject of a number of research analyst reports. EF Hutton Acquisition Co. I reiterated a "buy" rating and issued a $2.40 price target on shares of PEDEVCO in a report on Thursday, March 30th. StockNews.com downgraded PEDEVCO from a "hold" rating to a "sell" rating in a research note on Friday, March 24th.Get PEDEVCO alerts:
PEDEVCO Stock Up 1.5 %
The business has a 50-day moving average price of $1.07 and a 200-day moving average price of $1.11. The company has a market capitalization of $76.92 million, a price-to-earnings ratio of 30.01 and a beta of 1.16.
Insider Transactions at PEDEVCO
In other PEDEVCO news, CEO Simon G. Kukes purchased 263,931 shares of the company's stock in a transaction that occurred on Thursday, March 30th. The shares were purchased at an average cost of $0.94 per share, with a total value of $248,095.14. Following the completion of the transaction, the chief executive officer now owns 6,391,497 shares of the company's stock, valued at $6,008,007.18. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Simon G. Kukes bought 263,931 shares of the company's stock in a transaction on Thursday, March 30th. The shares were bought at an average cost of $0.94 per share, with a total value of $248,095.14. Following the transaction, the chief executive officer now directly owns 6,391,497 shares in the company, valued at approximately $6,008,007.18. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Moore Clark sold 174,666 shares of the company's stock in a transaction dated Friday, March 31st. The stock was sold at an average price of $1.05, for a total value of $183,399.30. Following the sale, the vice president now owns 600,334 shares of the company's stock, valued at approximately $630,350.70. The disclosure for this sale can be found here. 68.50% of the stock is owned by insiders.
Institutional Trading of PEDEVCO
A number of hedge funds have recently modified their holdings of PED. Dimensional Fund Advisors LP raised its holdings in shares of PEDEVCO by 224.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 41,197 shares of the company's stock worth $56,000 after buying an additional 28,497 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of PEDEVCO by 51.5% in the 1st quarter. Vanguard Group Inc. now owns 904,719 shares of the company's stock worth $1,222,000 after buying an additional 307,640 shares in the last quarter. XTX Topco Ltd increased its holdings in PEDEVCO by 44.7% during the 1st quarter. XTX Topco Ltd now owns 52,091 shares of the company's stock valued at $70,000 after purchasing an additional 16,083 shares in the last quarter. First Republic Investment Management Inc. acquired a new stake in PEDEVCO during the 1st quarter valued at $28,000. Finally, Jane Street Group LLC acquired a new stake in PEDEVCO during the 1st quarter valued at $30,000. Institutional investors own 4.80% of the company's stock.
PEDEVCO Company Profile
PEDEVCO Corp. is an exploration and production company, which engages in the acquisition and development of oil and natural gas assets. It focuses on the operation of Permian and Denver-Julesberg Basins. The company was founded by Frank C. Ingriselli in September 2000 and is headquartered in Houston, TX.
- Get a free copy of the StockNews.com research report on PEDEVCO (PED)
- How to Invest in the Top Grocery Stocks for This Year
- Array Technologies Brings Solar Flare To 2023 Earnings Forecast
- Best Bank Stocks to Invest in Ahead of Rising Interest Rates
- How to Invest in Farmland: 7 Simple Ways
- ExxonMobil Gushes To New Highs
Receive News & Ratings for PEDEVCO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PEDEVCO and related companies with MarketBeat.com's FREE daily email newsletter.