Bank of Montreal Can Increases Position in Pacific Ethanol, Inc. (PEIX)
Bank of Montreal Can increased its position in shares of Pacific Ethanol, Inc. (NASDAQ:PEIX) by 6,755.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 240,082 shares of the oil and gas company’s stock after buying an additional 236,580 shares during the period. Bank of Montreal Can owned 0.55% of Pacific Ethanol worth $1,501,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of PEIX. OppenheimerFunds Inc. raised its stake in shares of Pacific Ethanol by 4.7% in the first quarter. OppenheimerFunds Inc. now owns 16,212 shares of the oil and gas company’s stock worth $111,000 after buying an additional 728 shares during the period. American International Group Inc. raised its stake in Pacific Ethanol by 7.1% in the first quarter. American International Group Inc. now owns 17,659 shares of the oil and gas company’s stock valued at $121,000 after buying an additional 1,163 shares during the last quarter. KCG Holdings Inc. acquired a new stake in Pacific Ethanol during the first quarter valued at about $149,000. Gotham Asset Management LLC raised its stake in Pacific Ethanol by 110.7% in the first quarter. Gotham Asset Management LLC now owns 23,809 shares of the oil and gas company’s stock valued at $163,000 after buying an additional 12,508 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its stake in Pacific Ethanol by 11.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 25,291 shares of the oil and gas company’s stock valued at $240,000 after buying an additional 2,633 shares during the last quarter. 67.29% of the stock is owned by institutional investors.
Pacific Ethanol, Inc. (PEIX) traded down 1.648% during midday trading on Thursday, hitting $4.475. 152,671 shares of the company traded hands. The firm’s market capitalization is $196.77 million. Pacific Ethanol, Inc. has a 12-month low of $4.40 and a 12-month high of $10.95. The stock’s 50-day moving average is $5.89 and its 200-day moving average is $6.59.
Pacific Ethanol (NASDAQ:PEIX) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by $0.18. The company had revenue of $405.20 million for the quarter, compared to the consensus estimate of $410.34 million. Pacific Ethanol had a negative net margin of 0.72% and a negative return on equity of 3.02%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period last year, the firm posted $0.11 earnings per share. Analysts anticipate that Pacific Ethanol, Inc. will post ($0.38) EPS for the current fiscal year.
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Several research firms recently issued reports on PEIX. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Pacific Ethanol in a research note on Wednesday, June 28th. 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. ValuEngine raised shares of Pacific Ethanol from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, Zacks Investment Research raised shares of Pacific Ethanol from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 10th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $12.50.
About Pacific Ethanol
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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