Basic Materials Recap: McMoRan Exploration and Plains Exploration & Production Being Bought by Freeport-McRoRan (NYSE:FCX)

  on Dec 06,2012 Posted in Finance ,U.S. News
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Plains Exploration & Production Co. (PXP) shares rallied 25% to $44.99 along with stock of McMoRan Exploration Co. (NYSE:MMR) which surged 77% to $14.99 on news that both oil and gas exploration firms have decided to be purchased by Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) in an agreement priced at nearly $20 billion.

Mcmoran Exploration Co (NYSE:MMR) shares moved up +87.00% to close at $15.82 and its total traded volume during last trading session was 86.92 million shares.

MMR’s has market capitalization of $2.56 billion and its beta value stands at 1.38 times.  MMR’s has current ratio of 0.91 and its debt-to-equity ratio was 0.35.

Freeport-McRoRan(NYSE:FCX) investors, though, were not so happy by the agreement forcing shares of the mining titan lower 14% to $32.99.  In a report, the firms stated that the merger would make a “premier” US-based natural resource firm with a broad portfolio of mineral, oil and natural gas assets

Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) declined -15.99% with the closing price of $32.16. The overall volume in the last trading session was 153.83 million shares. Its fifty two week range was $31.08-$48.96. The total market capitalization remained $30.53 billion.

In its share capital FCX has 949.32 million outstanding shares while 941.54 million shares have been floated in market. FCX has insider ownership of 0.24% with its institutional ownership remained 74.15%. Company’s current year earnings per share grew with 4.51% while the five years EPS growth rate was +7.57%.

Exxon Mobil Corp. (XOM) announced on Wednesday that its Chairman and CEO Rex Tillerson would receive a $4.587 million bonus, as per reported by documents filed Tuesday with the Securities and Exchange Commission.
Exxon Mobil Corporation (NYSE:XOM) reported the gain of +0.62% and closed at $87.73 with the total traded volume of 12.72 million sharesXOM has trailing twelve months’ earnings per share of $35.41.

As of latest close, Chevron Corporation (NYSE:CVX)shares are up about +1.16% for 2012 and recently topped out a 52-week high of $118.53 (9/21/2012). Since then, it has retreated -10.50% but stands 11.70% above 52-week low. The shares slipped below the 200-Day SMA ($-0.79) and are now sitting -4.19% below 50-day SMA. The performance measured for the month was -2.85% and weekly performance appeared at -0.39%.

The price of LyondellBasell Industries NV (NYSE:LYB)moved up +4.20% and finished the day at $51.85 on above average volume. The day started out with a lower opening price of $49.00 versus prior close of $51.85. The total number of shares traded on the latest trading day was about 19.05 shares, and changed hands at average prices of $48.77 to $51.85 apiece. The shares declined about 74.81% since the start of 2012 and has a 17.84% gain in last three months. Narrowing down the performance period, the stock rose 3.72% for the month and a 7.86% gain over the week.





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