Fintel reports that on September 14, 2023, EF Hutton reiterated coverage of PEDEVCO (AMEX:PED) with a Buy recommendation.
Analyst Price Forecast Suggests 118.57% Upside
As of August 31, 2023, the average one-year price target for PEDEVCO is 2.37. The forecasts range from a low of 2.17 to a high of $2.62. The average price target represents an increase of 118.57% from its latest reported closing price of 1.08.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for PEDEVCO is 62MM, an increase of 92.07%. The projected annual non-GAAP EPS is 0.13.
What is the Fund Sentiment?
There are 36 funds or institutions reporting positions in PEDEVCO. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to PED is 0.01%, a decrease of 18.58%. Total shares owned by institutions increased in the last three months by 0.29% to 3,143K shares.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 768K shares representing 0.88% ownership of the company. No change in the last quarter.
Bridgeway Capital Management holds 368K shares representing 0.42% ownership of the company. In it's prior filing, the firm reported owning 366K shares, representing an increase of 0.39%. The firm decreased its portfolio allocation in PED by 21.90% over the last quarter.
Renaissance Technologies holds 326K shares representing 0.37% ownership of the company. In it's prior filing, the firm reported owning 228K shares, representing an increase of 30.07%. The firm increased its portfolio allocation in PED by 34.28% over the last quarter.
Geode Capital Management holds 240K shares representing 0.28% ownership of the company. In it's prior filing, the firm reported owning 171K shares, representing an increase of 28.95%. The firm increased its portfolio allocation in PED by 9.95% over the last quarter.
Corsair Capital Management holds 235K shares representing 0.27% ownership of the company. No change in the last quarter.
PEDEVCO Background Information
(This description is provided by the company.)
PEDEVCO Corp. is a publicly-traded energy company engaged in the acquisition and development of strategic, high growth energy projects in the United States. PEDEVCO's principal assets are its San Andres Asset located in the Northwest Shelf of the Permian Basin in eastern New Mexico, and its Denver-Julesberg ('D-J') Basin Asset located in the D-J Basin in Weld and Morgan Counties, Colorado. PEDEVCO is headquartered in Houston, Texas.
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