Key Points
- Major shareholder Simon Kukes purchased 147,070 Pedevco shares at an average price of $13, investing approximately $1.91 million. His direct ownership rose 3.69% to 4.14 million shares, valued at about $53.8 million.
- Pedevco shares opened at $13.25, with the stock trading near its 50-day average of $13.26 and below its 12-month high of $18.89. The company has a market capitalization of approximately $176.1 million.
- Pedevco’s latest quarterly results exceeded expectations, with EPS of $1.31 versus a $0.36 estimate and revenue of $46.11 million versus $38 million expected. Analysts maintain a consensus “Buy” rating, while institutional ownership remains limited at 3.26%.
Pedevco Corp. (NYSEAMERICAN:PED - Get Free Report) major shareholder Simon Kukes purchased 147,070 shares of the stock in a transaction on Thursday, October 8th. The shares were purchased at an average price of $13.00 per share, for a total transaction of $1,911,910.00. Following the transaction, the insider directly owned 4,137,543 shares of the company's stock, valued at approximately $53,788,059. This represents a 3.69% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Pedevco Trading Up 0.1%
Shares of PED stock opened at $13.25 on Wednesday. The business has a 50-day moving average price of $13.26 and a two-hundred day moving average price of $13.65. Pedevco Corp. has a 12-month low of $8.64 and a 12-month high of $18.89. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.42. The firm has a market cap of $176.09 million, a P/E ratio of 441.81 and a beta of 0.41.
Pedevco (NYSEAMERICAN:PED - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $0.36 by $0.95. The firm had revenue of $46.11 million for the quarter, compared to analyst estimates of $38.00 million. Pedevco had a positive return on equity of 0.67% and a negative net margin of 14.61%. Equities analysts anticipate that Pedevco Corp. will post 0.82 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Separately, Zacks Research raised Pedevco from a "strong sell" rating to a "hold" rating in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy".
View Our Latest Stock Report on PED
Institutional Investors Weigh In On Pedevco
A hedge fund recently bought a new stake in Pedevco stock. State Street Corp purchased a new position in Pedevco Corp. (NYSEAMERICAN:PED - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,325 shares of the company's stock, valued at approximately $152,000. State Street Corp owned about 0.09% of Pedevco as of its most recent SEC filing. 3.26% of the stock is currently owned by institutional investors.
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.
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