OxFORD Asset Management LLP decreased its position in Pacific Ethanol Inc (NASDAQ:PEIX) by 25.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 318,721 shares of the oil and gas company’s stock after selling 109,882 shares during the quarter. OxFORD Asset Management LLP owned 0.72% of Pacific Ethanol worth $1,767,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Candlewood Investment Group LP raised its stake in shares of Pacific Ethanol by 19.3% in the 2nd quarter. Candlewood Investment Group LP now owns 3,254,318 shares of the oil and gas company’s stock valued at $20,339,000 after purchasing an additional 526,901 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Pacific Ethanol by 20.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,629,229 shares of the oil and gas company’s stock valued at $14,592,000 after purchasing an additional 450,851 shares during the period. Boston Partners raised its stake in shares of Pacific Ethanol by 55.6% in the 3rd quarter. Boston Partners now owns 2,561,600 shares of the oil and gas company’s stock valued at $14,217,000 after purchasing an additional 915,830 shares during the period. HighTower Advisors LLC raised its stake in shares of Pacific Ethanol by 9.6% in the 2nd quarter. HighTower Advisors LLC now owns 1,820,929 shares of the oil and gas company’s stock valued at $11,389,000 after purchasing an additional 160,107 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Pacific Ethanol by 7.4% in the second quarter. Vanguard Group Inc. now owns 1,653,951 shares of the oil and gas company’s stock valued at $10,337,000 after acquiring an additional 113,819 shares during the last quarter. 80.54% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently issued reports on PEIX. Zacks Investment Research downgraded Pacific Ethanol from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 5th. ValuEngine downgraded Pacific Ethanol from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 target price on shares of Pacific Ethanol in a research report on Thursday, November 9th. Finally, B. Riley began coverage on Pacific Ethanol in a research report on Tuesday, November 28th. They issued a “buy” rating and a $7.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. Pacific Ethanol has a consensus rating of “Hold” and a consensus target price of $11.50.
Pacific Ethanol (NASDAQ:PEIX) last released its earnings results on Tuesday, November 7th. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.09. The business had revenue of $445.40 million for the quarter, compared to the consensus estimate of $434.57 million. Pacific Ethanol had a negative return on equity of 2.13% and a negative net margin of 0.51%. Pacific Ethanol’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.09) earnings per share. sell-side analysts predict that Pacific Ethanol Inc will post -0.58 EPS for the current year.
In related news, Director William L. Jones sold 20,000 shares of Pacific Ethanol stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $4.30, for a total value of $86,000.00. Following the sale, the director now owns 56,903 shares of the company’s stock, valued at $244,682.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.87% of the stock is currently owned by insiders.
Pacific Ethanol 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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