Wells Fargo & Company MN Has $412,000 Stake in Pacific Ethanol, Inc. (PEIX)

Wells Fargo & Company MN reduced its position in Pacific Ethanol, Inc. (NASDAQ:PEIX) by 59.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,886 shares of the oil and gas company’s stock after selling 94,795 shares during the period. Wells Fargo & Company MN owned about 0.16% of Pacific Ethanol worth $412,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PEIX. Dimensional Fund Advisors LP increased its position in shares of 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. Candlewood Investment Group LP increased its position in shares of Pacific Ethanol by 19.3% in the second quarter. Candlewood Investment Group LP now owns 3,254,318 shares of the oil and gas company’s stock worth $20,339,000 after acquiring an additional 526,901 shares in the last quarter. Vanguard Group Inc. increased its position in shares of 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. Prudential Financial Inc. increased its position in shares of Pacific Ethanol by 98.8% in the second quarter. Prudential Financial Inc. now owns 675,471 shares of the oil and gas company’s stock worth $4,221,000 after acquiring an additional 335,748 shares in the last quarter. Finally, Kennedy Capital Management Inc. increased its position in shares of Pacific Ethanol by 93.7% in the second quarter. Kennedy Capital Management Inc. now owns 684,688 shares of the oil and gas company’s stock worth $4,279,000 after acquiring an additional 331,284 shares in the last quarter. 79.68% of the stock is currently owned by institutional investors and hedge funds.

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Pacific Ethanol, Inc. (PEIX) opened at $4.40 on Wednesday. Pacific Ethanol, Inc. has a 1 year low of $4.15 and a 1 year high of $10.95. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.30 and a quick ratio of 1.53.

Pacific Ethanol (NASDAQ:PEIX) last posted its earnings results on Tuesday, November 7th. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.09. The firm had revenue of $445.40 million during the quarter, compared to analysts’ expectations of $434.57 million. Pacific Ethanol had a negative net margin of 0.51% and a negative return on equity of 2.13%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.09) earnings per share. sell-side analysts expect that Pacific Ethanol, Inc. will post -0.55 earnings per share for the current year.

A number of brokerages recently commented on PEIX. Cowen and Company set a $13.00 price objective on shares of Pacific Ethanol and gave the company a “buy” rating in a research report on Saturday, July 29th. Zacks Investment Research downgraded shares of Pacific Ethanol from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 5th. HC Wainwright set a $14.00 price objective on shares of Pacific Ethanol and gave the company a “buy” rating in a research report on Friday, August 4th. Finally, ValuEngine downgraded shares of 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 three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $13.00.

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

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