Oxford Asset Management bought a new position in Pacific Ethanol Inc (NASDAQ:PEIX) during the first quarter, Holdings Channel reports. The institutional investor bought 113,939 shares of the oil and gas company’s stock, valued at approximately $780,000.
Other large investors have also recently added to or reduced their stakes in the company. Highbridge Capital Management LLC purchased a new stake in Pacific Ethanol during the third quarter worth $892,000. Russell Investments Group Ltd. purchased a new stake in Pacific Ethanol during the fourth quarter worth $1,671,000. State Street Corp increased its stake in Pacific Ethanol by 7.2% in the fourth quarter. State Street Corp now owns 694,518 shares of the oil and gas company’s stock worth $6,601,000 after buying an additional 46,514 shares during the period. Dimensional Fund Advisors LP increased its stake in Pacific Ethanol by 113.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,054,204 shares of the oil and gas company’s stock worth $10,015,000 after buying an additional 559,890 shares during the period. Finally, Federated Investors Inc. PA purchased a new stake in Pacific Ethanol during the fourth quarter worth $107,000. Hedge funds and other institutional investors own 67.52% of the company’s stock.
Shares of Pacific Ethanol Inc (PEIX) opened at 6.05 on Friday. Pacific Ethanol Inc has a 12 month low of $4.64 and a 12 month high of $10.95. The firm has a market cap of $264.43 million, a P/E ratio of 336.11 and a beta of 2.14. The stock’s 50 day moving average price is $6.49 and its 200-day moving average price is $7.59.
Pacific Ethanol (NASDAQ:PEIX) last issued its quarterly earnings results on Tuesday, May 9th. The oil and gas company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by $0.27. The company had revenue of $386.30 million during the quarter, compared to analyst estimates of $385.81 million. Pacific Ethanol had a negative net margin of 0.80% and a negative return on equity of 3.12%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.32) EPS. Equities research analysts anticipate that Pacific Ethanol Inc will post $0.41 earnings per share for the current fiscal year.
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PEIX has been the subject of a number of research analyst reports. Roth Capital set a $12.00 target price on Pacific Ethanol and gave the stock a “buy” rating in a research report on Saturday, February 25th. Zacks Investment Research downgraded Pacific Ethanol from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 8th. Finally, ValuEngine downgraded Pacific Ethanol from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd.
In related news, major shareholder Candlewood Investment Group, L sold 1,420,251 shares of the firm’s stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $6.70, for a total value of $9,515,681.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.10% of the company’s stock.
Pacific Ethanol Company Profile
Pacific Ethanol, Inc (Pacific Ethanol) is a marketer and producer of low-carbon renewable fuels in the Western United States. Pacific Ethanol markets all the ethanol produced by four ethanol production facilities located in California, Idaho and Oregon, or the Pacific Ethanol Plants, all the ethanol produced by three other ethanol producers in the Western United States and ethanol purchased from other third-party suppliers throughout the United States.
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