InterOil Corp. (NYSE:IOC) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $49.04 and last traded at $48.35, with a volume of 411,467 shares changing hands. The stock had previously closed at $47.81.

IOC has been the subject of a number of research reports. Zacks Investment Research upgraded shares of InterOil Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, May 18th. Raymond James Financial Inc. lowered shares of InterOil Corp. from an “outperform” rating to a “market perform” rating in a report on Thursday, June 16th. Finally, Citigroup Inc. lowered shares of InterOil Corp. from a “buy” rating to a “neutral” rating in a report on Tuesday, May 24th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $44.43.

The stock’s market capitalization is $2.36 billion. The stock has a 50-day moving average of $43.98 and a 200-day moving average of $33.51.

InterOil Corp. (NYSE:IOC) last released its earnings results on Friday, May 13th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates 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 was down 92.1% compared to the same quarter last year. Equities research analysts forecast that InterOil Corp. will post ($1.12) earnings per share for the current 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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