Key Points
- VP Moore Clark sold 18,797 shares of Pedevco on June 30 at an average price of $14.67, totaling about $275,752. After the sale, Clark still held 54,428 shares, a 25.67% reduction in the position.
- Pedevco’s latest quarterly results missed EPS estimates, reporting a loss of $3.28 per share versus the expected $0.62. Revenue came in at $40.22 million, above analyst estimates, but the company posted negative net margin and return on equity.
- Analyst sentiment is mixed: Zacks Research downgraded Pedevco to “strong sell,” while MarketBeat data shows a current consensus rating of “Moderate Buy.”
Pedevco Corp. (NYSEAMERICAN:PED - Get Free Report) VP Moore Clark sold 18,797 shares of Pedevco stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $14.67, for a total value of $275,751.99. Following the completion of 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Pedevco Stock Performance
NYSEAMERICAN PED opened at $12.49 on Friday. The stock has a market capitalization of $166.12 million, a price-to-earnings ratio of 416.47 and a beta of 0.18. The business's 50 day moving average is $14.00 and its two-hundred day moving average is $13.50. Pedevco Corp. has a 12-month low of $8.64 and a 12-month high of $18.89. The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 0.54.
Pedevco (NYSEAMERICAN:PED - Get Free Report) last posted its quarterly earnings results 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 analyst estimates of $37.65 million. Research analysts expect that Pedevco Corp. will post 1.58 EPS for the current year.
Wall Street Analysts Forecast Growth
Separately, Zacks Research cut Pedevco from a "hold" rating to a "strong sell" rating in a research report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy".
View Our Latest Research Report on PED
Institutional Investors Weigh In On Pedevco
A hedge fund recently bought a new stake in Pedevco stock. Juniper Capital Advisors L.P. purchased a new position in shares of Pedevco Corp. (NYSEAMERICAN:PED - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 196,359 shares of the company's stock, valued at approximately $110,000. Pedevco makes up approximately 0.0% of Juniper Capital Advisors L.P.'s portfolio, making the stock its 2nd biggest position. Juniper Capital Advisors L.P. owned 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.
Pedevco Company Profile
(
Get Free Report)
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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