Pedevco Corp. (NYSEAMERICAN:PED) Stock Short Interest Report for September

Pedevco Corp. (NYSEAMERICAN:PED – Get Free Report) saw a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 61,588 shares, a decrease of 39.7% from the September 15th total of 102,152 shares. Based on an average trading volume of 33,488 shares, the days-to-cover ratio is presently 1.8 days. Currently, 1.0% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised Pedevco from a “strong sell” rating to a “hold” rating in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy”.

View Our Latest Stock Report on PED

Pedevco Price Performance

Shares of PED stock traded up $0.21 during trading on Friday, hitting $13.69. The company had a trading volume of 35,765 shares, compared to its average volume of 33,402. The firm has a market capitalization of $181.94 million, a P/E ratio of 456.49 and a beta of 0.41. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.78 and a current ratio of 0.78. The stock’s 50-day moving average price is $13.37 and its 200 day moving average price is $13.60. Pedevco has a one year low of $8.64 and a one year high of $18.89.

Pedevco (NYSEAMERICAN:PED – Get Free Report) last released its earnings results on Thursday, August 13th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.95. Pedevco had a positive return on equity of 0.67% and a negative net margin of 14.61%. The company had revenue of $46.11 million for the quarter, compared to analyst estimates of $38.00 million. Equities analysts expect that Pedevco will post 0.82 EPS for the current fiscal year.

Insider Buying and Selling

In other news, VP Moore Clark sold 5,277 shares of Pedevco stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $12.53, for a total transaction of $66,120.81. Following the sale, the vice president directly owned 45,385 shares in the company, valued at approximately $568,674.05. The trade was a 10.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Simon G. Kukes acquired 147,070 shares of the stock in a transaction on Thursday, October 8th. The stock was bought at an average price of $13.00 per share, with a total value of $1,911,910.00. Following the transaction, the insider directly owned 4,137,543 shares in the company, valued at approximately $53,788,059. This represents a 3.69% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold a total of 10,260 shares of company stock valued at $129,417 in the last quarter. 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. bought a new stake in Pedevco Corp. (NYSEAMERICAN:PED – Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 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 holdings, making the stock its 2nd largest holding. Juniper Capital Advisors L.P. owned 0.21% of Pedevco at the end of the most recent reporting period. Institutional investors and hedge funds own 3.26% of the company’s stock.

Pedevco Company Profile

(Get Free Report)

PEDEVCO Corp. (NYSE American: PED) is an independent energy company engaged in the acquisition, development and production of oil and natural gas properties in the United States. The company focuses on building a portfolio of domestic energy assets and generating production through the development of existing properties.

PEDEVCO’s activities have included oil and natural gas operations in major U.S. producing regions, including the Permian Basin and the Denver-Julesburg Basin. Its operations generally involve acquiring mineral and leasehold interests, drilling and completing wells, and managing production and related field activities.

The company was formerly known as Pacific Energy Development Corporation before adopting the PEDEVCO name.

Further Reading

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