Goldman Sachs Group Inc. lowered its stake in shares of Pacific Ethanol, Inc. (NASDAQ:PEIX) by 80.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 122,643 shares of the oil and gas company’s stock after selling 510,496 shares during the period. Goldman Sachs Group Inc.’s holdings in Pacific Ethanol were worth $840,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. DnB Asset Management AS raised its stake in Pacific Ethanol by 28.8% in the first quarter. DnB Asset Management AS now owns 1,682,039 shares of the oil and gas company’s stock valued at $11,522,000 after buying an additional 375,901 shares in the last quarter. HighTower Advisors LLC raised its stake in Pacific Ethanol by 4.1% in the first quarter. HighTower Advisors LLC now owns 1,660,822 shares of the oil and gas company’s stock valued at $11,374,000 after buying an additional 65,685 shares in the last quarter. Dimensional Fund Advisors LP raised its stake 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 valued at $11,269,000 after buying an additional 590,856 shares in the last quarter. Vanguard Group Inc. raised its stake 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 valued at $10,551,000 after buying an additional 349,854 shares in the last quarter. Finally, Boston Partners raised its stake in Pacific Ethanol by 141.7% in the first quarter. Boston Partners now owns 1,507,400 shares of the oil and gas company’s stock valued at $10,325,000 after buying an additional 883,860 shares in the last quarter. 67.29% of the stock is owned by institutional investors and hedge funds.

Pacific Ethanol, Inc. (PEIX) traded down 1.02% during mid-day trading on Tuesday, reaching $4.85. 93,761 shares of the company traded hands. Pacific Ethanol, Inc. has a one year low of $4.80 and a one year high of $10.95. The firm’s market cap is $213.26 million. The stock’s 50-day moving average price is $5.98 and its 200-day moving average price is $6.63.

Pacific Ethanol (NASDAQ:PEIX) last issued its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.04) by $0.18. Pacific Ethanol had a negative return on equity of 3.02% and a negative net margin of 0.72%. The business had revenue of $405.20 million for the quarter, compared to analyst estimates of $410.34 million. During the same quarter in the prior year, the firm earned $0.11 EPS. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. Analysts forecast that Pacific Ethanol, Inc. will post ($0.38) earnings per share for the current fiscal year.

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PEIX has been the subject of several recent research reports. Zacks Investment Research lowered shares of Pacific Ethanol from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 11th. ValuEngine raised shares of Pacific Ethanol from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. HC Wainwright reissued a “buy” rating and set a $14.00 target price on shares of Pacific Ethanol in a research note on Wednesday, June 28th. Finally, Cowen and Company set a $13.00 target price on shares of Pacific Ethanol and gave the company a “buy” rating in a research note on Saturday, July 29th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $12.50.

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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Institutional Ownership by Quarter for Pacific Ethanol (NASDAQ:PEIX)

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