Braskem S.A. (BAK) Shares Bought by OxFORD Asset Management LLP
OxFORD Asset Management LLP lifted its stake in Braskem S.A. (NYSE:BAK) by 113.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 146,052 shares of the energy company’s stock after purchasing an additional 77,627 shares during the period. OxFORD Asset Management LLP’s holdings in Braskem were worth $3,026,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in BAK. Bank of America Corp DE boosted its position in Braskem by 15.2% during the first quarter. Bank of America Corp DE now owns 362,984 shares of the energy company’s stock worth $7,387,000 after purchasing an additional 47,761 shares in the last quarter. Comerica Bank grew its holdings in Braskem by 1.5% in the first quarter. Comerica Bank now owns 9,889 shares of the energy company’s stock valued at $211,000 after purchasing an additional 147 shares during the last quarter. Dorsey Wright & Associates grew its holdings in Braskem by 50.9% in the second quarter. Dorsey Wright & Associates now owns 142,170 shares of the energy company’s stock valued at $1,304,000 after purchasing an additional 47,978 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Braskem by 25.2% in the first quarter. Renaissance Technologies LLC now owns 3,262,800 shares of the energy company’s stock valued at $66,398,000 after purchasing an additional 657,400 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Braskem by 0.9% in the first quarter. Envestnet Asset Management Inc. now owns 16,065 shares of the energy company’s stock valued at $326,000 after purchasing an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 0.66% of the company’s stock.
BAK has been the subject of a number of research analyst reports. Zacks Investment Research cut Braskem from a “buy” rating to a “hold” rating in a research report on Tuesday, August 29th. BidaskClub lowered shares of Braskem from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. Finally, Morgan Stanley upgraded shares of Braskem from an “equal weight” rating to an “overweight” rating in a research report on Monday, July 17th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $21.33.
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Shares of Braskem S.A. (BAK) opened at 27.11 on Tuesday. The firm has a market capitalization of $10.79 billion, a price-to-earnings ratio of 27.38 and a beta of 1.13. The stock has a 50 day moving average of $25.49 and a 200 day moving average of $22.44. Braskem S.A. has a 52-week low of $14.88 and a 52-week high of $28.78.
Braskem SA produces thermoplastic resins. The Company’s segments are Basic petrochemicals, Polyolefins, Vinyls, the United States and Europe, and Chemical distribution. It is also engaged in the import and export of chemicals, petrochemicals and fuels, the production, supply and sale of utilities such as steam, water, compressed air, industrial gases, the provision of industrial services, and the production, supply and sale of electric energy.
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