12 High Growth Oil Stocks to Buy

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5. PEDEVCO Corp. (NYSE:PED)

Revenue growth past 5 years: 46.75%

PEDEVCO Corp. (NYSE:PED) is an oil and gas company specializing in acquiring and developing energy assets across key U.S. basins.

In December 2024, PEDEVCO Corp. (NYSE:PED) announced that President J. Douglas Schick would assume the roles of CEO and board member effective January 1, 2025, succeeding Simon Kukes.  This leadership change aims to leverage Schick’s extensive industry experience to drive the company’s strategic growth. Additionally, in February 2025, the company filed an 8-K report, including a consent from independent petroleum engineers regarding the evaluation of its oil and gas reserves, underscoring its commitment to transparency and regulatory compliance.

PEDEVCO Corp. (NYSE:PED) reported Q3 2024 net income of $2.9 million, a strong rise from $0.9 million in Q3 2023. Revenue increased 23% to $9.0 million, driven by higher production, which averaged 1,698 barrels of oil equivalent per day, up from 1,376 barrels of oil equivalent per day in Q3 2023. Operating income jumped 231% to $2.8 million, while adjusted EBITDA grew 30% to $5.7 million.

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