Pedevco corp officer sells shares worth $69,218

HOUSTON—Paul Anthony Pinkston, the Chief Accounting Officer and Principal Financial (NASDAQ:PFG) Officer at PEDEVCO Corp (NYSEAMERICAN:PED), recently executed multiple stock transactions, according to a Form 4 filing with the Securities and Exchange Commission. The transactions come as PEDEVCO's stock has experienced a significant 21% decline over the past week, though the company maintains strong fundamentals with a current ratio of 2.1, according to InvestingPro data.

On January 23, Pinkston sold 23,000 shares of PEDEVCO common stock at a weighted average price of approximately $0.8546 per share, amounting to a total of $19,656. This transaction was part of a pre-established 10b5-1 trading plan aimed at covering tax liabilities related to the vesting of restricted stock. The shares were sold at prices ranging from $0.8103 to $0.91. Following this transaction, Pinkston's direct ownership stood at 691,700 shares.

Additionally, on January 27, Pinkston sold another 65,000 shares at a weighted average price of $0.7625, totaling $49,562. This sale also followed the 10b5-1 trading plan, addressing tax liabilities associated with stock vesting. The shares were sold at prices ranging from $0.7201 to $0.8570. After this sale, Pinkston's direct ownership increased to 816,700 shares due to an earlier acquisition.

On the acquisition front, Pinkston received 190,000 shares of restricted common stock at no cost on January 23. These shares were issued as compensation for his services and are subject to vesting conditions tied to his continued service with the company.

These transactions reflect Pinkston's ongoing management of his equity holdings in PEDEVCO Corp, a company engaged in the exploration and production of crude petroleum and natural gas. The company has demonstrated solid performance with revenue of $35.72 million in the last twelve months and a robust gross profit margin of 69%. InvestingPro analysis reveals 7 additional key insights about PEDEVCO's financial health and growth prospects, with analysts setting price targets ranging from $1.50 to $2.15 per share.

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