PEDEVCO (NYSE:PED) Given Buy Rating at D. Boral Capital

PEDEVCO (NYSE:PED)‘s stock had its “buy” rating reiterated by equities researchers at D. Boral Capital in a report released on Tuesday,Benzinga reports. They currently have a $1.50 price objective on the stock. D. Boral Capital’s price objective indicates a potential upside of 140.04% from the company’s current price.

Separately, StockNews.com started coverage on PEDEVCO in a research report on Wednesday, May 14th. They set a “sell” rating for the company.

PEDEVCO Stock Down 0.2%

Shares of PED opened at $0.62 on Tuesday. The stock has a market cap of $57.08 million, a PE ratio of 31.26 and a beta of 0.30. The business has a 50-day simple moving average of $0.61 and a two-hundred day simple moving average of $0.74. PEDEVCO has a 12-month low of $0.47 and a 12-month high of $1.10.

Institutional Investors Weigh In On PEDEVCO

Institutional investors have recently modified their holdings of the company. Virtu Financial LLC boosted its position in shares of PEDEVCO by 129.9% during the 4th quarter. Virtu Financial LLC now owns 38,045 shares of the company’s stock worth $30,000 after purchasing an additional 21,499 shares in the last quarter. Renaissance Technologies LLC raised its stake in PEDEVCO by 19.7% during the 4th quarter. Renaissance Technologies LLC now owns 292,736 shares of the company’s stock worth $228,000 after buying an additional 48,132 shares during the period. Finally, Citadel Advisors LLC boosted its holdings in PEDEVCO by 232.5% in the fourth quarter. Citadel Advisors LLC now owns 186,415 shares of the company’s stock worth $145,000 after acquiring an additional 130,349 shares in the last quarter. 3.26% of the stock is owned by institutional investors.

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 interests in the Permian Basin asset covering an area of approximately 22,721 net acres located in New Mexico; and D-J Basin asset covering an area of approximately 19,214 net acres located in Wyoming.