Schwab Charles Investment Management Inc. increased its position in Pacific Ethanol, Inc. (NASDAQ:PEIX) by 67.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 238,527 shares of the oil and gas company’s stock after buying an additional 95,972 shares during the period. Schwab Charles Investment Management Inc. owned 0.55% of Pacific Ethanol worth $1,491,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. DnB Asset Management AS raised its holdings in Pacific Ethanol by 40.7% during the 2nd quarter. DnB Asset Management AS now owns 2,367,337 shares of the oil and gas company’s stock valued at $14,796,000 after acquiring an additional 685,298 shares during the period. Dimensional Fund Advisors LP grew its position in Pacific Ethanol by 56.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,645,060 shares of the oil and gas company’s stock worth $11,269,000 after acquiring an additional 590,856 shares in the last quarter. Vanguard Group Inc. grew its position in Pacific Ethanol by 29.4% in the first quarter. Vanguard Group Inc. now owns 1,540,132 shares of the oil and gas company’s stock worth $10,551,000 after acquiring an additional 349,854 shares in the last quarter. Russell Investments Group Ltd. grew its position in Pacific Ethanol by 73.3% in the second quarter. Russell Investments Group Ltd. now owns 755,370 shares of the oil and gas company’s stock worth $4,721,000 after acquiring an additional 319,400 shares in the last quarter. Finally, Morgan Stanley grew its position in Pacific Ethanol by 39.9% in the first quarter. Morgan Stanley now owns 404,035 shares of the oil and gas company’s stock worth $2,767,000 after acquiring an additional 115,273 shares in the last quarter. Institutional investors own 76.67% of the company’s stock.
Several analysts have issued reports on the stock. HC Wainwright restated a “buy” rating and set a $14.00 price target on shares of Pacific Ethanol in a research report on Thursday. Zacks Investment Research downgraded shares of Pacific Ethanol from a “hold” rating to a “strong sell” rating in a research note on Saturday, October 28th. ValuEngine downgraded shares of Pacific Ethanol from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Finally, Cowen and Company set a $13.00 price objective on shares of Pacific Ethanol and gave the company a “buy” rating in a research note on Saturday, July 29th. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $13.00.
Shares of Pacific Ethanol, Inc. (NASDAQ PEIX) traded down $0.05 during midday trading on Friday, reaching $4.65. 160,500 shares of the company’s stock were exchanged, compared to its average volume of 603,375. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.32 and a current ratio of 3.25. Pacific Ethanol, Inc. has a one year low of $4.15 and a one year high of $10.95.
Pacific Ethanol (NASDAQ:PEIX) last issued its quarterly earnings data on Tuesday, November 7th. The oil and gas company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.09. Pacific Ethanol had a negative net margin of 0.51% and a negative return on equity of 2.11%. The business had revenue of $445.40 million during the quarter, compared to analysts’ expectations of $434.57 million. During the same period last year, the company posted ($0.09) EPS. The business’s revenue was up 6.6% on a year-over-year basis. equities analysts forecast that Pacific Ethanol, Inc. will post -0.45 earnings per share for the current year.
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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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