InterOil Corp. (IOC) Hits New 52-Week High at $49.04
InterOil Corp. (NYSE:IOC)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $49.04 and last traded at $48.35, with a volume of 411,467 shares trading hands. The stock had previously closed at $47.81.
Several research firms have issued reports on IOC. Citigroup Inc. cut shares of InterOil Corp. from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 24th. Raymond James Financial Inc. cut shares of InterOil Corp. from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 16th. Finally, Zacks Investment Research upgraded shares of InterOil Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, March 15th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. InterOil Corp. currently has a consensus rating of “Buy” and an average target price of $44.43.
The company’s 50 day moving average is $43.62 and its 200-day moving average is $33.30. The firm’s market capitalization is $2.40 billion.
InterOil Corp. (NYSE:IOC) last announced its quarterly earnings results on Friday, May 13th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.31) by $0.03. The firm earned $921 million during the quarter, compared to analysts’ expectations of $1.10 billion. The business’s revenue for the quarter was down 92.1% on a year-over-year basis. On average, equities research analysts expect that InterOil Corp. will post ($1.12) earnings per share for the current fiscal year.
An institutional investor recently bought a new position in InterOil Corp. stock. Henderson Group PLC purchased a new stake in shares of InterOil Corp. (NYSE:IOC) during the fourth quarter, according to its most recent disclosure with the SEC. The fund purchased 137,332 shares of the company’s stock, valued at approximately $4,315,000. Henderson Group PLC owned approximately 0.28% of InterOil Corp. as of its most recent filing with the SEC.
InterOil Corporation (InterOil) is an oil and gas exploration and production company. Papua New Guinea explores for oil and gas across over 4 million acres in the south of the country. The area is divided into four Petroleum Prospecting Licenses (PPLs) and two Petroleum Retention Licenses (PRLs). A feature of InterOil’s work in Papua New Guinea is PRL 15 that contains the Elk-Antelope field.
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