Pedevco (NYSEAMERICAN:PED) Stock: Insider Simon Kukes Acquires 147,070 Shares

Key Points

• Major shareholder Simon Kukes purchased 147,070 Pedevco shares at an average price of $13, investing approximately $1.91 million and increasing his stake by 3.69% to 4.14 million shares.
• Pedevco’s latest quarterly results exceeded expectations, with earnings of $1.31 per share versus the $0.36 consensus estimate and revenue of $46.11 million, ahead of the $38 million forecast.
• The stock was trading down 1.7%, while analyst sentiment remained positive: Zacks upgraded Pedevco to “Hold,” and MarketBeat reported a consensus rating of “Buy.”

Pedevco Corp. (NYSEAMERICAN:PED - Get Free Report) major shareholder Simon Kukes bought 147,070 shares of Pedevco stock in a transaction that occurred on Thursday, October 8th. The shares were acquired at an average cost of $13.00 per share, for a total transaction of $1,911,910.00. Following the acquisition, the insider owned 4,137,543 shares in the company, valued at $53,788,059. The trade was a 3.69% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Pedevco Trading Down 1.7%

PED opened at $13.24 on Tuesday. Pedevco Corp. has a one year low of $8.64 and a one year high of $18.89. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.78 and a quick ratio of 0.78. The business has a 50 day simple moving average of $13.20 and a two-hundred day simple moving average of $13.65. The firm has a market capitalization of $175.96 million, a price-to-earnings ratio of 441.48 and a beta of 0.41.

Pedevco (NYSEAMERICAN:PED - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.95. Pedevco had a positive return on equity of 0.67% and a negative net margin of 14.61%. The company had revenue of $46.11 million for the quarter, compared to analyst estimates of $38.00 million. Analysts predict that Pedevco Corp. will post 0.82 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded shares of Pedevco from a "strong sell" rating to a "hold" rating in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Pedevco has a consensus rating of "Buy".

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 stake in Pedevco Corp. (NYSEAMERICAN:PED - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 196,359 shares of the company's stock, valued at approximately $110,000. Pedevco makes up 0.0% of Juniper Capital Advisors L.P.'s portfolio, making the stock its 2nd largest position. Juniper Capital Advisors L.P. owned about 0.21% of Pedevco as of its most recent filing with the Securities and Exchange Commission (SEC). 3.26% of the stock is currently owned by hedge funds and other institutional investors.

Pedevco Company Profile

PEDEVCO Corp. (NYSE American: PED) is an independent energy company engaged in the acquisition, development and production of oil and natural gas properties in the United States. The company focuses on building a portfolio of domestic energy assets and generating production through the development of existing properties.

PEDEVCO's activities have included oil and natural gas operations in major U.S. producing regions, including the Permian Basin and the Denver-Julesburg Basin. Its operations generally involve acquiring mineral and leasehold interests, drilling and completing wells, and managing production and related field activities.

The company was formerly known as Pacific Energy Development Corporation before adopting the PEDEVCO name.

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