PED Overview

Revised Price Target: The average one-year price target for PEDEVCO (NYSEAM:PED) has been lowered to $0.87 per share, a 43.33% decrease from the previous estimate of $1.53.

Fund Sentiment: There are currently 32 funds reporting positions in PEDEVCO, reflecting a decrease of 8.57% in ownership over the last quarter, while total shares owned by institutions increased slightly by 0.15%.

Institutional Holdings: Notable institutional shareholders include Vanguard Total Stock Market Index Fund with 845K shares and Geode Capital Management, which increased its holdings to 255K shares despite a significant decrease in portfolio allocation.

Fintel Overview: Fintel provides comprehensive investing research tools, including fundamentals, analyst reports, and fund sentiment, aimed at individual investors and small hedge funds.

Oversold Stocks in Energy Sector: The energy sector has several oversold stocks, presenting potential buying opportunities for undervalued companies, particularly those with an RSI below 30.

Pedevco Corp Performance: Pedevco Corp's stock has dropped 27% recently, with an RSI of 29.8, following disappointing quarterly sales, although future prospects look promising due to upcoming well developments.

Geospace Technologies Update: Geospace Technologies reported a loss of 71 cents per share, with its stock down 50% over the past month and an RSI of 29, despite a recent 18.4% increase in share price.

Houston American Energy Situation: Houston American Energy's stock has fallen 59% recently, with an RSI of 23.2, following an $8 million direct offering, although there are signals indicating a potential breakout in its shares.

Market Performance: Oil & gas equipment and services shares are lagging behind the market, with a slight increase of about 0.6%, primarily affected by declines in NextNRG and Lanzatech Global, which fell by 7.1% and 6.8% respectively.

Author's Perspective: The views expressed in the article reflect the author's opinions and do not necessarily represent those of Nasdaq, Inc.

Conflict and Retaliation: Following Israel's airstrikes on Iranian military sites, Iran launched missile attacks on Israel, marking the beginning of what they termed "The Hard Retaliation," resulting in significant casualties among Iranian military leadership.

Market Impact: The conflict has led to a notable decline in global financial markets, with the Dow Jones dropping over 700 points, while energy sector ETFs saw substantial inflows, indicating investor interest amidst rising oil prices and ongoing geopolitical tensions.

Defense Stocks Performance: Defense shares are lagging in the market, down approximately 0.8%, with Lockheed Martin and Northrop Grumman leading the decline at 3.2% and 2.6% respectively.

Market Overview: The commentary reflects the author's opinions and does not necessarily represent those of Nasdaq, Inc.

Pedevco Corp. Earnings Report: Pedevco Corp. reported break-even earnings per share for the quarter, missing the Zacks Consensus Estimate of $0.02 and showing a significant decline from previous expectations. The company also posted revenues of $8.74 million, which fell short of estimates by 4.11%.

Market Outlook and Industry Performance: Pedevco shares have underperformed compared to the S&P 500 this year, with a current Zacks Rank of #3 (Hold), indicating expected performance in line with the market. The oil and gas industry is ranked in the bottom 7% of Zacks industries, suggesting potential challenges ahead for the stock.