Masters Capital Management Decreased Its Bank Amer (Call) (BAC) Position by $87.00 Million as Shares Declined; Arosa Capital Management LP Raised Its Westlake Chem (WLK) Position by $3.90 Million

April 17, 2018 - By Ellis Scott

Westlake Chemical Corporation (NYSE:WLK) Logo

Mike Masters decreased its stake in Bank Amer Corp (Call) (BAC) by 60% based on its latest 2017Q4 regulatory filing with the SEC. Masters Capital Management Llc sold 3.00 million shares as the company’s stock declined 1.20% with the market. The hedge fund run by Mike Masters held 2.00 million shares of the major banks company at the end of 2017Q4, valued at $59.04 million, down from 5.00M at the end of the previous reported quarter. Masters Capital Management Llc who had been investing in Bank Amer Corp (Call) for a number of months, seems to be less bullish one the $306.00 billion market cap company. The stock increased 0.44% or $0.13 during the last trading session, reaching $29.93. About 110.59M shares traded or 43.82% up from the average. Bank of America Corporation (NYSE:BAC) has risen 28.18% since April 17, 2017 and is uptrending. It has outperformed by 16.63% the S&P500.

Arosa Capital Management Lp increased its stake in Westlake Chem Corp (WLK) by 96.61% based on its latest 2017Q4 regulatory filing with the SEC. Arosa Capital Management Lp bought 36,810 shares as the company’s stock rose 8.30% while stock markets declined. The institutional investor held 74,910 shares of the major chemicals company at the end of 2017Q4, valued at $7.98 million, up from 38,100 at the end of the previous reported quarter. Arosa Capital Management Lp who had been investing in Westlake Chem Corp for a number of months, seems to be bullish on the $14.30B market cap company. The stock increased 1.57% or $1.71 during the last trading session, reaching $110.33. About 700,097 shares traded. Westlake Chemical Corporation (NYSE:WLK) has risen 76.43% since April 17, 2017 and is uptrending. It has outperformed by 64.88% the S&P500.

Masters Capital Management Llc, which manages about $652.61M and $4.18 billion US Long portfolio, upped its stake in Cleveland Cliffs Inc by 1.00M shares to 2.00 million shares, valued at $14.42M in 2017Q4, according to the filing. It also increased its holding in At&T Inc (Call) (NYSE:T) by 1.19 million shares in the quarter, for a total of 3.19 million shares, and has risen its stake in Jetblue Airways Corp (NASDAQ:JBLU).

Investors sentiment increased to 1.19 in Q4 2017. Its up 0.15, from 1.04 in 2017Q3. It is positive, as 66 investors sold BAC shares while 561 reduced holdings. 162 funds opened positions while 585 raised stakes. 6.85 billion shares or 0.98% less from 6.91 billion shares in 2017Q3 were reported. Blb&B Advsrs Ltd Company holds 0.37% or 88,825 shares. Liberty Mutual Group Incorporated Asset Management Incorporated reported 391,070 shares stake. Vnbtrust Association has 6,800 shares for 0.12% of their portfolio. Mount Vernon Inc Md holds 3.84% of its portfolio in Bank of America Corporation (NYSE:BAC) for 86,404 shares. Moreover, Marshall Wace Limited Liability Partnership has 2.25% invested in Bank of America Corporation (NYSE:BAC) for 1.82 million shares. Ghp Investment Advisors Incorporated invested in 52,168 shares. 50 were accumulated by Ogorek Anthony Joseph Adv. California-based Signature & Inv Ltd Liability Corporation has invested 2.12% in Bank of America Corporation (NYSE:BAC). Union Comml Bank has 21,760 shares for 0.2% of their portfolio. Amg State Bank holds 0.43% or 223,479 shares in its portfolio. Syntal Capital Partners Limited Liability Co holds 11,961 shares or 0.11% of its portfolio. Zacks Invest Management, Illinois-based fund reported 690,093 shares. 1St Source Savings Bank owns 86,953 shares or 0.21% of their US portfolio. Franklin Inc invested 0.22% in Bank of America Corporation (NYSE:BAC). Kornitzer Management Ks accumulated 150,409 shares.

Among 33 analysts covering Bank of America (NYSE:BAC), 22 have Buy rating, 0 Sell and 11 Hold. Therefore 67% are positive. Bank of America had 110 analyst reports since July 21, 2015 according to SRatingsIntel. Jefferies maintained Bank of America Corporation (NYSE:BAC) on Thursday, September 14 with “Buy” rating. The stock of Bank of America Corporation (NYSE:BAC) has “Buy” rating given on Wednesday, January 20 by Sandler O’Neill. The rating was upgraded by Macquarie Research on Tuesday, August 25 to “Underperform”. The firm has “Buy” rating by Deutsche Bank given on Tuesday, August 25. Standpoint Research downgraded Bank of America Corporation (NYSE:BAC) on Thursday, December 1 to “Hold” rating. On Tuesday, October 31 the stock rating was maintained by Robert W. Baird with “Hold”. As per Monday, October 10, the company rating was maintained by Jefferies. The rating was maintained by Jefferies on Friday, July 7 with “Buy”. Vetr downgraded the shares of BAC in report on Tuesday, August 11 to “Buy” rating. CLSA upgraded Bank of America Corporation (NYSE:BAC) on Friday, January 29 to “Outperform” rating.

Among 19 analysts covering Westlake Chemical (NYSE:WLK), 9 have Buy rating, 2 Sell and 8 Hold. Therefore 47% are positive. Westlake Chemical had 61 analyst reports since July 24, 2015 according to SRatingsIntel. As per Tuesday, October 3, the company rating was maintained by Cowen & Co. The rating was maintained by JP Morgan with “Overweight” on Monday, May 16. J.P. Morgan downgraded the stock to “Hold” rating in Monday, April 9 report. Goldman Sachs downgraded the stock to “Neutral” rating in Monday, August 10 report. The firm earned “Buy” rating on Wednesday, November 8 by Nomura. The firm has “Buy” rating by Citigroup given on Tuesday, October 24. SunTrust upgraded it to “Buy” rating and $52 target in Wednesday, June 15 report. The firm has “Hold” rating by Tudor Pickering given on Friday, October 14. BMO Capital Markets initiated the shares of WLK in report on Tuesday, March 27 with “Hold” rating. The company was maintained on Wednesday, September 27 by Wells Fargo.

Arosa Capital Management Lp, which manages about $456.37M and $651.63 million US Long portfolio, decreased its stake in Marathon Pete Corp (NYSE:MPC) by 153,790 shares to 89,376 shares, valued at $5.90M in 2017Q4, according to the filing. It also reduced its holding in Targa Res Corp (NYSE:TRGP) by 150,000 shares in the quarter, leaving it with 263,211 shares, and cut its stake in Energy Recovery Inc (NASDAQ:ERII).

Westlake Chemical Corporation (NYSE:WLK) Institutional Positions Chart

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