RR Advisors LLC Takes $833,000 Position in Pacific Ethanol, Inc. (PEIX)
RR Advisors LLC bought a new position in shares of Pacific Ethanol, Inc. (NASDAQ:PEIX) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 150,000 shares of the oil and gas company’s stock, valued at approximately $833,000. RR Advisors LLC owned 0.34% of Pacific Ethanol at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of PEIX. Principal Financial Group Inc. bought a new stake in Pacific Ethanol in the 2nd quarter valued at $100,000. First Quadrant L P CA boosted its stake in Pacific Ethanol by 496.8% in the 3rd quarter. First Quadrant L P CA now owns 18,935 shares of the oil and gas company’s stock valued at $105,000 after purchasing an additional 15,762 shares during the period. Voya Investment Management LLC boosted its stake in Pacific Ethanol by 21.9% in the 2nd quarter. Voya Investment Management LLC now owns 19,222 shares of the oil and gas company’s stock valued at $120,000 after purchasing an additional 3,448 shares during the period. American International Group Inc. boosted its stake in Pacific Ethanol by 7.1% in the 1st quarter. American International Group Inc. now owns 17,659 shares of the oil and gas company’s stock valued at $121,000 after purchasing an additional 1,163 shares during the period. Finally, Brandywine Global Investment Management LLC boosted its stake in Pacific Ethanol by 2.8% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 22,350 shares of the oil and gas company’s stock valued at $140,000 after purchasing an additional 610 shares during the period. Institutional investors own 80.42% of the company’s stock.
Pacific Ethanol, Inc. (NASDAQ PEIX) opened at $4.65 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.53 and a current ratio of 2.30. Pacific Ethanol, Inc. has a fifty-two week low of $4.10 and a fifty-two week high of $10.95.
Pacific Ethanol (NASDAQ:PEIX) last posted its quarterly earnings results 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 return on equity of 2.13% and a negative net margin of 0.51%. The company had revenue of $445.40 million during the quarter, compared to analysts’ expectations of $434.57 million. During the same quarter in the previous year, the firm earned ($0.09) EPS. Pacific Ethanol’s revenue was up 6.6% on a year-over-year basis. sell-side analysts predict that Pacific Ethanol, Inc. will post -0.6 earnings per share for the current fiscal year.
A number of research firms have recently weighed in on PEIX. HC Wainwright set a $14.00 target price on Pacific Ethanol and gave the company a “buy” rating in a research report on Friday, August 4th. B. Riley began coverage on Pacific Ethanol in a research report on Tuesday. They set a “buy” rating and a $7.00 target price for the company. Zacks Investment Research upgraded Pacific Ethanol from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, ValuEngine downgraded Pacific Ethanol from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $11.50.
COPYRIGHT VIOLATION NOTICE: This news story was posted by Daily Political and is owned by of Daily Political. If you are accessing this news story on another site, it was copied illegally and republished in violation of United States & international copyright & trademark laws. The correct version of this news story can be viewed at https://www.dailypolitical.com/2017/11/30/rr-advisors-llc-takes-833000-position-in-pacific-ethanol-inc-peix.html.
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.
Receive News & Ratings for Pacific Ethanol Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pacific Ethanol Inc. and related companies with MarketBeat.com's FREE daily email newsletter.