Roth Capital Analysts Increase Earnings Estimates for PEDEVCO Corp. (NYSE:PED)

PEDEVCO Corp. (NYSE:PED - Free Report) - Stock analysts at Roth Capital boosted their Q1 2024 EPS estimates for shares of PEDEVCO in a note issued to investors on Monday, April 8th. Roth Capital analyst J. White now anticipates that the company will post earnings per share of $0.01 for the quarter, up from their prior estimate of ($0.01). The consensus estimate for PEDEVCO's current full-year earnings is ($0.01) per share. Roth Capital also issued estimates for PEDEVCO's Q2 2024 earnings at $0.00 EPS, Q3 2024 earnings at $0.01 EPS, Q4 2024 earnings at $0.02 EPS and FY2024 earnings at $0.03 EPS.

PEDEVCO (NYSE:PED - Get Free Report) last announced its earnings results on Friday, March 15th. The company reported ($0.05) EPS for the quarter. The firm had revenue of $6.74 million during the quarter, compared to the consensus estimate of $6.39 million. PEDEVCO had a return on equity of 2.31% and a net margin of 6.97%.

Separately, StockNews.com initiated coverage on shares of PEDEVCO in a research report on Tuesday. They issued a "sell" rating on the stock.

PEDEVCO Price Performance

Shares of NYSE:PED remained flat at $0.80 on Wednesday. 28,869 shares of the stock traded hands, compared to its average volume of 110,282. The firm's 50 day simple moving average is $0.75. PEDEVCO has a one year low of $0.61 and a one year high of $1.13. The stock has a market cap of $71.58 million, a PE ratio of 40.27 and a beta of 0.51.

Institutional Trading of PEDEVCO

A hedge fund recently raised its stake in PEDEVCO stock. Northern Trust Corp grew its position in shares of PEDEVCO Corp. (NYSE:PED - Free Report) by 38.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,342 shares of the company's stock after acquiring an additional 15,770 shares during the quarter. Northern Trust Corp owned 0.06% of PEDEVCO worth $43,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 3.26% of the company's stock.

Insider Buying and Selling at PEDEVCO

In related news, President John Douglas Schick sold 41,667 shares of the stock in a transaction on Friday, January 19th. The shares were sold at an average price of $0.66, for a total transaction of $27,500.22. Following the completion of the transaction, the president now owns 838,800 shares in the company, valued at $553,608. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Moore Clark sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $0.64, for a total value of $32,000.00. Following the sale, the vice president now directly owns 505,334 shares in the company, valued at approximately $323,413.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President John Douglas Schick sold 41,667 shares of PEDEVCO stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $0.66, for a total transaction of $27,500.22. Following the sale, the president now owns 838,800 shares in the company, valued at $553,608. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 319,300 shares of company stock valued at $206,411. Corporate insiders own 71.10% of the company's stock.

About PEDEVCO

PEDEVCO Corp., an oil and gas company, focuses on the acquisition, development, and production of oil and natural gas assets in the United States. It holds interest in the Permian Basin asset with approximately 22,271 net acres located in New Mexico, the United States; and D-J Basin asset with approximately 19,214 net acres located in Wyoming, the United States.