Moore Clark Sells 5,277 Shares of Pedevco (NYSEAMERICAN:PED) Stock

Key Points

• Insider selling: VP Moore Clark sold 5,277 Pedevco shares for $66,120.81, reducing his holdings by 10.42% to 45,385 shares. He also reported additional sales totaling 23,780 shares in recent transactions.
• Quarterly results beat estimates: Pedevco reported quarterly EPS of $1.31 versus the $0.36 consensus estimate, while revenue reached $46.11 million compared with expectations of $38.00 million.
• Stock and outlook: Pedevco shares recently traded at $13.23, with a market capitalization of $175.83 million. Zacks upgraded the stock to “Hold,” while analyst coverage remains split between “Strong Buy” and “Hold,” producing a consensus “Buy” rating.

Pedevco Corp. (NYSEAMERICAN:PED - Get Free Report) VP Moore Clark sold 5,277 shares of the company's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $12.53, for a total value of $66,120.81. Following the completion of the transaction, the vice president owned 45,385 shares of the company's stock, valued at $568,674.05. The trade was a 10.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Moore Clark also recently made the following trade(s):

• On Wednesday, August 19th, Moore Clark sold 1,218 shares of Pedevco stock. The stock was sold at an average price of $12.37, for a total transaction of $15,066.66.
• On Monday, August 17th, Moore Clark sold 3,765 shares of Pedevco stock. The shares were sold at an average price of $12.81, for a total transaction of $48,229.65.
• On Tuesday, June 30th, Moore Clark sold 18,797 shares of Pedevco stock. The shares were sold at an average price of $14.67, for a total transaction of $275,751.99.

Pedevco Price Performance

Shares of Pedevco stock traded up $1.11 during trading on Wednesday, hitting $13.23. 38,670 shares of the company's stock traded hands, compared to its average volume of 25,575. The company has a market cap of $175.83 million, a PE ratio of 441.15 and a beta of 0.23. The firm's fifty day moving average price is $12.02 and its 200 day moving average price is $13.61. Pedevco Corp. has a twelve month low of $8.64 and a twelve month 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.

Pedevco (NYSEAMERICAN:PED - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported $1.31 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.95. Pedevco had a negative net margin of 14.61% and a positive return on equity of 0.67%. The firm had revenue of $46.11 million during the quarter, compared to analysts' expectations of $38.00 million. Analysts forecast that Pedevco Corp. will post 0.7 earnings per share for the current year.

Institutional Investors Weigh In On Pedevco

An institutional investor recently bought a new stake in Pedevco stock. Juniper Capital Advisors L.P. acquired a new position in shares of Pedevco Corp. (NYSEAMERICAN:PED - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 investment portfolio, making the stock its 2nd biggest holding. Juniper Capital Advisors L.P. owned about 0.21% of Pedevco as of its most recent filing with the Securities and Exchange Commission. 3.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source