Pedevco (NYSEAMERICAN:PED) Stock Passes Below 200 Day Moving Average - Time to Sell?

Key Points

• Pedevco shares fell below their 200-day moving average, trading as low as $10.84 and last changing hands at $11.15 versus the $13.62 average.
• Zacks Research upgraded the stock from “Strong Sell” to “Hold,” while analyst coverage consists of one Strong Buy and one Hold rating, producing a MarketBeat consensus rating of “Buy.”
• The company reported a quarterly loss of $3.28 per share, far below the $0.62 consensus estimate, despite revenue of $40.22 million exceeding expectations; Pedevco also has a negative net margin of 46.78%.

Pedevco Corp. (NYSEAMERICAN:PED - Get Free Report)'s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.62 and traded as low as $10.84. Pedevco shares last traded at $11.15, with a volume of 52,134 shares trading hands.

Wall Street Analyst Weigh In

Separately, Zacks Research raised 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 given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy".

Pedevco Stock Down 3.0%

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 business has a fifty day simple moving average of $12.79 and a two-hundred day simple moving average of $13.62. The company has a market cap of $148.18 million, a PE ratio of 371.79 and a beta of 0.18.

Pedevco (NYSEAMERICAN:PED - Get Free Report) last issued its earnings results 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 business had revenue of $40.22 million during the quarter, compared to analyst estimates of $37.65 million. As a group, equities research analysts predict that Pedevco Corp. will post 0.7 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Martyn Willsher purchased 13,428 shares of the stock in a transaction dated Tuesday, May 26th. The shares were purchased at an average price of $14.29 per share, with a total value of $191,886.12. Following the transaction, the director owned 25,727 shares in the company, valued at $367,638.83. The trade was a 109.18% increase in their position. The acquisition 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 company's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $14.67, for a total transaction of $275,751.99. Following the completion of the sale, the vice president directly owned 54,428 shares of the company's stock, valued at $798,458.76. This represents a 25.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 54.90% of the company's stock.

Institutional Trading of Pedevco

An institutional investor recently bought a new position in Pedevco stock. Juniper Capital Advisors L.P. acquired a new position in Pedevco Corp. (NYSEAMERICAN:PED - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 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 portfolio, making the stock its 2nd largest holding. Juniper Capital Advisors L.P. owned approximately 0.21% of Pedevco at the end of the most recent quarter. 3.26% of the stock is currently owned by institutional investors and hedge funds.

Pedevco Company Profile

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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