Pedevco (NYSEAMERICAN:PED) Shares Pass Below 200 Day Moving Average - What's Next?

Key Points

• Pedevco shares fell below their 200-day moving average, trading as low as $10.01 versus the $13.61 average, signaling continued technical weakness.
• Analyst sentiment remains favorable overall: Zacks Research upgraded the stock from “strong sell” to “hold,” while MarketBeat reports a consensus “Buy” rating.
• The company reported a quarterly EPS loss of $3.28, missing estimates by $3.90, despite revenue of $40.22 million exceeding forecasts; insiders own 54.9% of the stock, with one director recently buying shares and a vice president selling.

Shares of Pedevco Corp. (NYSEAMERICAN:PED - Get Free Report) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $13.61 and traded as low as $10.01. Pedevco shares last traded at $10.01, with a volume of 16,722 shares trading hands.

Analysts Set New Price Targets

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

Pedevco Price Performance

The stock has a 50 day moving average of $12.33 and a 200-day moving average of $13.61. The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $133.03 million, a P/E ratio of 333.78 and a beta of 0.23.

Pedevco (NYSEAMERICAN:PED - Get Free Report) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($3.28) EPS for the quarter, missing the consensus estimate 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 business had revenue of $40.22 million during the quarter, compared to the consensus estimate of $37.65 million. On average, equities research analysts anticipate that Pedevco Corp. will post 0.7 earnings per share for the current fiscal year.

Insider Transactions at Pedevco

In related news, Director Martyn Willsher purchased 13,428 shares of Pedevco stock in a transaction that occurred on Tuesday, May 26th. The shares were bought at an average price of $14.29 per share, with a total value of $191,886.12. Following the purchase, the director directly owned 25,727 shares of the company's stock, valued at approximately $367,638.83. This represents a 109.18% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Moore Clark sold 18,797 shares of the firm's stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $14.67, for a total transaction of $275,751.99. Following the completion of the transaction, 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 54.90% of the company's stock.

Hedge Funds Weigh In On Pedevco

An institutional investor recently bought a new position in Pedevco stock. Juniper Capital Advisors L.P. purchased a new stake in shares of Pedevco Corp. (NYSEAMERICAN:PED - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 196,359 shares of the company's stock, valued at approximately $110,000. Pedevco makes up about 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 at the end of the most recent quarter. 3.26% of the stock is currently owned by hedge funds and other institutional investors.

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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