Oaktree Capital Management LP Lowers Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Oaktree Capital Management LP reduced its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 27.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,763,003 shares of the natural resource company's stock after selling 662,236 shares during the period. Freeport-McMoRan comprises 1.2% of Oaktree Capital Management LP's investment portfolio, making the stock its 19th biggest position. Oaktree Capital Management LP owned approximately 0.12% of Freeport-McMoRan worth $67,135,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Schroder Investment Management Group boosted its stake in Freeport-McMoRan by 22.1% during the fourth quarter. Schroder Investment Management Group now owns 825,151 shares of the natural resource company's stock valued at $31,488,000 after buying an additional 149,223 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Freeport-McMoRan by 38.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,273,162 shares of the natural resource company's stock valued at $619,682,000 after purchasing an additional 4,488,210 shares during the last quarter. Allianz SE purchased a new position in Freeport-McMoRan in the 4th quarter worth approximately $5,610,000. Palogic Value Management L.P. increased its holdings in shares of Freeport-McMoRan by 1.5% in the 4th quarter. Palogic Value Management L.P. now owns 20,277 shares of the natural resource company's stock worth $772,000 after buying an additional 292 shares during the last quarter. Finally, Allstate Corp bought a new stake in shares of Freeport-McMoRan during the 4th quarter worth $1,571,000. 80.77% of the stock is owned by institutional investors.

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Freeport-McMoRan Trading Down 7.9 %

Shares of Freeport-McMoRan stock traded down $3.00 during trading on Thursday, hitting $35.20. The stock had a trading volume of 13,416,621 shares, compared to its average volume of 15,908,101. The stock has a market cap of $50.58 billion, a PE ratio of 27.29, a PEG ratio of 0.87 and a beta of 1.87. The firm's fifty day simple moving average is $38.03 and its 200-day simple moving average is $41.89. Freeport-McMoRan Inc. has a 12 month low of $33.98 and a 12 month high of $55.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. As a group, sell-side analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio (DPR) is presently 23.26%.

Analyst Ratings Changes

Several equities analysts recently commented on FCX shares. JPMorgan Chase & Co. raised shares of Freeport-McMoRan from a "neutral" rating to an "overweight" rating and increased their target price for the company from $48.00 to $52.00 in a report on Thursday, March 20th. StockNews.com raised Freeport-McMoRan from a "hold" rating to a "buy" rating in a research note on Monday. Jefferies Financial Group upgraded Freeport-McMoRan from a "hold" rating to a "buy" rating and raised their price target for the stock from $40.00 to $48.00 in a research report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 target price on the stock in a report on Thursday, March 6th. Finally, Dbs Bank raised shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $52.04.

Freeport-McMoRan Profile

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals. The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.