BlackRock Inc. increased its position in Profire Energy, Inc. (NASDAQ:PFIE) by 2,023.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,522,572 shares of the oil and gas company’s stock after acquiring an additional 1,450,876 shares during the quarter. BlackRock Inc. owned about 3.18% of Profire Energy worth $5,146,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in PFIE. Cadence Capital Management LLC increased its holdings in shares of Profire Energy by 15.1% during the 2nd quarter. Cadence Capital Management LLC now owns 543,936 shares of the oil and gas company’s stock worth $1,839,000 after purchasing an additional 71,166 shares during the period. Schwab Charles Investment Management Inc. bought a new position in shares of Profire Energy during the 2nd quarter worth about $149,000. Russell Investments Group Ltd. bought a new position in shares of Profire Energy during the 2nd quarter worth about $1,054,000. Strs Ohio bought a new position in shares of Profire Energy during the 2nd quarter worth about $373,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Profire Energy by 238.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 62,863 shares of the oil and gas company’s stock worth $213,000 after purchasing an additional 44,303 shares during the period. Hedge funds and other institutional investors own 43.96% of the company’s stock.
Several research analysts have recently issued reports on PFIE shares. Zacks Investment Research downgraded shares of Profire Energy from a “buy” rating to a “hold” rating in a report on Thursday, July 19th. Maxim Group restated a “buy” rating and set a $7.00 price objective on shares of Profire Energy in a report on Thursday, August 2nd. ValuEngine upgraded shares of Profire Energy from a “hold” rating to a “buy” rating in a report on Tuesday, August 7th. Finally, Roth Capital set a $5.00 price objective on shares of Profire Energy and gave the stock a “buy” rating in a report on Monday, August 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Profire Energy currently has an average rating of “Hold” and a consensus target price of $4.25.
NASDAQ:PFIE opened at $2.45 on Friday. Profire Energy, Inc. has a 52-week low of $1.72 and a 52-week high of $5.30. The stock has a market cap of $120.21 million, a PE ratio of 27.22 and a beta of 1.77.
Profire Energy (NASDAQ:PFIE) last posted its quarterly earnings data on Wednesday, November 7th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. The company had revenue of $11.50 million for the quarter, compared to the consensus estimate of $11.82 million. Profire Energy had a net margin of 13.77% and a return on equity of 13.89%. On average, equities research analysts forecast that Profire Energy, Inc. will post 0.14 earnings per share for the current year.
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Profire Energy Profile
Profire Energy, Inc, an oilfield technology company, provides burner- and chemical-management products and services for the oil and gas industry primarily in the United States and Canada. It assists energy production companies in the production and transportation of oil and natural gas. The company offers burner-management systems to ignite, monitor, and manage the burner flames used in oilfield vessels, as well as complementary oilfield products, such as valves and fuel trains, airplates, solar packages, and flare stack igniters and nozzles.
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