InterOil Corp. (IOC) Sees Strong Trading Volume
InterOil Corp. (NYSE:IOC) shares saw an uptick in trading volume on Friday . 443,253 shares were traded during trading, a decline of 3% from the previous session’s volume of 459,281 shares.The stock last traded at $47.54 and had previously closed at $47.42.
Several research firms have weighed in on IOC. Zacks Investment Research lowered InterOil Corp. from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 4th. Raymond James Financial Inc. lowered InterOil Corp. from an “outperform” rating to a “market perform” rating in a research report on Thursday, June 16th. Finally, Citigroup Inc. lowered InterOil Corp. from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 24th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. InterOil Corp. currently has an average rating of “Buy” and an average price target of $44.43.
The firm’s market capitalization is $2.37 billion. The company has a 50-day moving average of $43.98 and a 200 day moving average of $33.51.
InterOil Corp. (NYSE:IOC) last posted its quarterly earnings data on Friday, May 13th. The company reported ($0.34) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by $0.03. The firm had revenue of $921 million for the quarter, compared to analyst estimates of $1.10 billion. InterOil Corp.’s quarterly revenue was down 92.1% compared to the same quarter last year. Analysts anticipate that InterOil Corp. will post ($1.12) earnings per share for the current fiscal year.
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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