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Pedevco
(PED)
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Rating:64Neutral
Price Target:
$16.00
▲(22.23% Upside)
Action:Reiterated
Date:08/29/26
PED’s score is driven primarily by solid financial resilience from a very conservative balance sheet, supported by constructive technical momentum and a generally positive earnings update with reiterated EBITDA guidance and debt reduction. These strengths are tempered by volatile profitability/free cash flow (including recent losses), a negative P/E (loss-making valuation signal), and mixed corporate actions that include potential dilution and finance leadership turnover.
Positive Factors
Large development platform
A broad acreage position across three basins gives PEDEVCO a substantial inventory of drilling and development opportunities. This scale can support production growth, spread operating capabilities across assets, and provide flexibility to prioritize projects as capital is allocated over the next several quarters.
Negative Factors
Volatile profitability
The shift from strong profitability in 2024 to losses in 2025 and the latest TTM period shows that earnings have not yet become durable. This volatility reduces confidence in repeatable returns from the enlarged asset base and leaves results more exposed to commodity prices and operating execution.
Read all positive and negative factors
Positive Factors
Negative Factors
Large development platform
A broad acreage position across three basins gives PEDEVCO a substantial inventory of drilling and development opportunities. This scale can support production growth, spread operating capabilities across assets, and provide flexibility to prioritize projects as capital is allocated over the next several quarters.
Read all positive factors
Pedevco (PED) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$198.45M
Dividend YieldN/A
Average Volume (3M)32.38K
Price to Earnings (P/E)―
Beta (1Y)-0.27
Revenue Growth229.37%
EPS Growth-332.30%
CountryUS
Employees25
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)-3.88
Shares Outstanding13,292,013
10 Day Avg. Volume19,477
30 Day Avg. Volume32,379
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)0.25
Price to Sales (P/S)1.13
P/FCF Ratio-5.31
Enterprise Value/Market Cap1.27
Enterprise Value/Revenue2.17
Enterprise Value/Gross Profit5.31
Enterprise Value/Ebitda12.36
Forecast
1Y Price Target
$18.00Price Target Upside37.51% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.37
Revenue Forecast (FY)$147.00M
Pedevco Business Overview & Revenue Model
Company Description
PEDEVCO Corp. is an oil and gas company primarily engaged in the acquisition, development, and production of hydrocarbon resources throughout the United States. As of December 31, 2021, the company owned approximately 32,870 net acres in New Mexic...
Pedevco Earnings Call Summary
Earnings Call Date:Aug 13, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 16, 2026
Earnings Call Sentiment Positive
The call highlights strong year-over-year growth in revenue and EBITDA driven by the merger and higher realized oil prices, meaningful balance sheet improvements (debt reduction, cash on hand, availability), and actionable near-term development and optimization programs enabled by permitting wins. Offsetting items include a sequential production decline, higher per-unit LOE until optimization takes effect, realized hedge-related cash outflows, and higher G&A and non-cash charges. Management reiterated full-year adjusted EBITDA guidance and emphasized financial discipline and a prioritized capital allocation framework.Positive Updates
Significant Revenue and EBITDA Growth
Q2 revenue of $46.1 million, up 561% year-over-year (from $7.0M) and ~15% sequentially; Q2 adjusted EBITDA of $18.7 million (Q1: $18.1M), and first-half adjusted EBITDA of $36.8M. GAAP net income of $17.5M, or $1.31 per share, versus a net loss of $1.7M in Q2 2025.
Negative Updates
Sequential Production Decline
Production declined ~16% quarter-over-quarter as D-J Basin wells that peaked early in 2026 followed natural decline curves. July production was lower than initially expected due to temporary shut-ins and accelerated optimization work.
Read all updates
Q2-2026 Updates
Positive
Negative
Significant Revenue and EBITDA Growth
Q2 revenue of $46.1 million, up 561% year-over-year (from $7.0M) and ~15% sequentially; Q2 adjusted EBITDA of $18.7 million (Q1: $18.1M), and first-half adjusted EBITDA of $36.8M. GAAP net income of $17.5M, or $1.31 per share, versus a net loss of $1.7M in Q2 2025.
Read all positive updates
Company Guidance
PEDEVCO reiterated full‑year 2026 adjusted EBITDA guidance of $60–70 million after generating $36.8 million of adjusted EBITDA in H1 (Q2 adjusted EBITDA $18.7M) on Q2 revenue of $46.1M (up 561% YoY from $7M and ~15% sequentially) and Q2 production of 618,912 BOE (~6,800 BOE/d); management cited an average realized oil price of $94.07/bbl, operating income of $15.4M, LOE of $16.4M, G&A $3.4M, DD&A $10.2M, and $5M net derivative income (comprised of $8.1M realized losses and a $13.1M unrealized gain). The company finished the quarter with ~$12.1M cash, reduced revolver borrowings to $85M (a $13M repayment), approximately $73M net funded debt, $40M available on the facility, ~13.3M shares outstanding (post 1-for-20 reverse split), and plans to drill/participate in over 20 gross wells (expanded program expected to contribute late 2026/early 2027) across its >300,000 net acre position (D‑J ~88k, Powder River ~202k, Permian ~14.5k) while maintaining disciplined capital allocation.Pedevco Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
78
Positive
Cash Flow
49
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 116.38M | 45.75M | 39.55M | 30.78M | 30.03M | 15.86M |
| Gross Profit | 47.45M | 26.63M | 11.18M | 10.08M | 8.48M | 2.54M |
| EBITDA | 20.39M | 17.74M | 20.82M | 13.61M | 14.10M | 6.18M |
| Net Income | -17.00M | -10.36M | 17.79M | 264.00K | 2.84M | -1.30M |
Balance Sheet | ||||||
| Total Assets | 359.70M | 375.87M | 133.84M | 129.59M | 116.11M | 98.22M |
| Cash, Cash Equivalents and Short-Term Investments | 10.80M | 3.22M | 4.01M | 18.52M | 29.43M | 25.93M |
| Total Debt | 85.00M | 214.00K | 228.00K | 316.00K | 81.00K | 195.00K |
| Total Liabilities | 159.65M | 168.50M | 12.74M | 28.13M | 19.65M | 6.74M |
| Stockholders Equity | 200.05M | 207.36M | 121.10M | 101.45M | 96.46M | 91.48M |
Cash Flow | ||||||
| Free Cash Flow | 1.88M | -9.73M | 12.60M | 23.44M | 3.73M | 5.93M |
| Operating Cash Flow | 31.12M | 10.76M | 12.77M | 23.48M | 15.98M | 5.97M |
| Investing Cash Flow | -150.15M | -133.18M | -26.87M | -35.74M | -12.27M | -2.76M |
| Financing Cash Flow | 119.96M | 122.14M | 0.00 | 0.00 | 35.00K | 14.69M |
Pedevco Technical Analysis
Positive
13.09
Price Trends
13.69
Positive
12.92
Positive
13.51
Positive
Market Momentum
0.31
Negative
62.96
Neutral
98.65
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PED, the sentiment is Positive. The current price of 13.09 is below the 20-day moving average (MA) of 13.51, below the 50-day MA of 13.69, and below the 200-day MA of 13.51, indicating a bullish trend. The MACD of 0.31 indicates Negative momentum. The RSI at 62.96 is Neutral, neither overbought nor oversold. The STOCH value of 98.65 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PED.
Pedevco Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $261.73M | 13.39 | 9.33% | ― | 24.79% | 0.31% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
64 Neutral | $198.45M | -3.85 | -9.65% | ― | 229.37% | -332.30% | |
64 Neutral | $192.60M | -32.47 | -2.92% | 3.93% | 53.71% | -204.13% | |
63 Neutral | $159.74M | -52.96 | -3.80% | 12.21% | 0.59% | -345.77% | |
52 Neutral | $190.29M | 9.18 | 5.13% | 59.31% | -23.70% | 30.67% | |
50 Neutral | $127.72M | -1.49 | -474.82% | 4.17% | -9.01% | -293.99% |
* Energy Sector Average
PED
Pedevco
14.93
2.19
17.19%
EPM
Evolution Petroleum
3.93
-0.08
-2.07%
AMPY
Amplify Energy
4.59
0.05
1.10%
KGEI
Kolibri Global Energy
7.28
2.86
64.71%
EPSN
Epsilon Energy
6.36
1.68
36.01%
EP
Empire Petroleum
3.07
-0.50
-13.96%
Pedevco Corporate Events
Executive/Board Changes
Pedevco Appoints Interim CEO Following Leadership Transition
Neutral
Sep 21, 2026
On September 21, 2026, PEDEVCO Corp. announced that President and Chief Executive Officer J. Douglas Schick stepped down from his executive roles and board position, with Chief Operating Officer Reagan Tuck (R.T.) Dukes appointed interim President...
Business Operations and StrategyShareholder Meetings
Pedevco Shareholders Approve Expanded Equity Incentive Plan
Positive
Aug 28, 2026
At its August 27, 2026 annual meeting, PEDEVCO stockholders approved a third amendment to the company’s 2021 Equity Incentive Plan, doubling the pool of common shares and related limits for incentive stock options and individual awards from ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.