Pedevco (NYSEAMERICAN:PED) Share Price Passes Below 200 Day Moving Average - Here's What Happened

Key Points

• Pedevco shares fell below their 200-day moving average on Thursday, dipping to as low as $11.86 before last trading at $12.21. The stock’s 200-day average is $13.55, signaling recent weakness in the share price.
• Analyst sentiment has turned more cautious, with Zacks Research downgrading Pedevco from “hold” to “strong sell.” MarketBeat still shows a consensus rating of “Moderate Buy,” but opinions remain mixed.
• Recent earnings were mixed to disappointing: Pedevco reported a loss of $3.28 per share, missing estimates by a wide margin, even though revenue of $40.22 million topped expectations. The company also showed negative net margin and return on equity, underscoring profitability challenges.

Pedevco Corp. (NYSEAMERICAN:PED - Get Free Report) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $13.55 and traded as low as $11.86. Pedevco shares last traded at $12.21, with a volume of 43,645 shares.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut shares of Pedevco from a "hold" rating to a "strong sell" rating in a report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy".

Pedevco Price Performance

The company's 50-day moving average price is $13.59 and its two-hundred day moving average price is $13.55. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.68 and a quick ratio of 0.67. The company has a market capitalization of $162.39 million, a P/E ratio of 407.14 and a beta of 0.18.

Pedevco (NYSEAMERICAN:PED - Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($3.28) EPS for the quarter, missing analysts' consensus estimates of $0.62 by ($3.90). Pedevco had a negative net margin of 46.78% and a negative return on equity of 3.20%. The firm had revenue of $40.22 million during the quarter, compared to analyst estimates of $37.65 million. As a group, sell-side analysts expect that Pedevco Corp. will post 1.58 EPS for the current year.

Insider Buying and Selling

In related news, Director Martyn Willsher purchased 13,428 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The stock was acquired at an average cost of $14.29 per share, for a total transaction of $191,886.12. Following the completion of the purchase, the director owned 25,727 shares in the company, valued at approximately $367,638.83. This represents a 109.18% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Moore Clark sold 18,797 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $14.67, for a total value of $275,751.99. Following the sale, the vice president directly owned 54,428 shares in the company, valued at $798,458.76. This represents a 25.67% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 70.40% of the company's stock.

Institutional Trading of Pedevco

An institutional investor recently bought a new stake in Pedevco stock. Juniper Capital Advisors L.P. purchased a new position in Pedevco Corp. (NYSEAMERICAN:PED - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 196,359 shares of the company's stock, valued at approximately $110,000. Pedevco accounts for 0.0% of Juniper Capital Advisors L.P.'s investment portfolio, making the stock its 2nd largest position. Juniper Capital Advisors L.P. owned approximately 0.21% of Pedevco as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 3.26% of the company's stock.

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.

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